Glynn Capital Management LLC acquired a new position in 3M Co (NYSE:MMM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,000 shares of the conglomerate’s stock, valued at approximately $843,000.

A number of other hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in 3M by 2.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,377,995 shares of the conglomerate’s stock valued at $2,238,278,000 after purchasing an additional 257,182 shares during the last quarter. Bank of New York Mellon Corp raised its position in 3M by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,727,135 shares of the conglomerate’s stock valued at $1,323,362,000 after purchasing an additional 537,325 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in 3M by 5.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,839,336 shares of the conglomerate’s stock valued at $755,275,000 after purchasing an additional 194,950 shares during the last quarter. Morgan Stanley raised its position in 3M by 17.3% during the 2nd quarter. Morgan Stanley now owns 3,612,642 shares of the conglomerate’s stock valued at $710,678,000 after purchasing an additional 534,001 shares during the last quarter. Finally, Parnassus Investments CA bought a new position in 3M during the 2nd quarter valued at approximately $706,178,000. Institutional investors own 67.66% of the company’s stock.

In other news, Director Gregory R. Page bought 1,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was purchased at an average price of $184.50 per share, with a total value of $184,500.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $276,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric D. Hammes sold 1,272 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $216.00, for a total value of $274,752.00. Following the completion of the transaction, the insider now directly owns 5,634 shares of the company’s stock, valued at approximately $1,216,944. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

A number of research analysts have commented on MMM shares. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a research report on Monday, September 3rd. Morgan Stanley started coverage on 3M in a research report on Monday, August 20th. They set an “equal weight” rating and a $212.00 price target for the company. UBS Group upped their price target on 3M from $215.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 30th. Gordon Haskett started coverage on 3M in a research report on Friday, October 12th. They set a “buy” rating for the company. Finally, Deutsche Bank upped their price target on 3M from $210.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $225.23.

Shares of NYSE:MMM opened at $201.10 on Friday. 3M Co has a 52-week low of $181.98 and a 52-week high of $259.77. The company has a market capitalization of $113.72 billion, a PE ratio of 21.93, a PEG ratio of 1.92 and a beta of 1.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.97 and a quick ratio of 1.36.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.12). 3M had a return on equity of 54.60% and a net margin of 13.79%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the prior year, the company posted $2.33 EPS. The firm’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that 3M Co will post 10.02 EPS for the current year.

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About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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