Joel Isaacson & Co. LLC lessened its position in shares of 3M Co (NYSE:MMM) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,751 shares of the conglomerate’s stock after selling 686 shares during the period. Joel Isaacson & Co. LLC’s holdings in 3M were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MMM. Destination Wealth Management increased its holdings in shares of 3M by 3.3% in the 2nd quarter. Destination Wealth Management now owns 1,841 shares of the conglomerate’s stock worth $319,000 after buying an additional 59 shares during the last quarter. Northwest Bancshares Inc. increased its holdings in shares of 3M by 4.4% in the 2nd quarter. Northwest Bancshares Inc. now owns 1,427 shares of the conglomerate’s stock worth $247,000 after buying an additional 60 shares during the last quarter. Newman Dignan & Sheerar Inc. increased its holdings in shares of 3M by 2.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 2,408 shares of the conglomerate’s stock worth $417,000 after buying an additional 60 shares during the last quarter. Advisors Management Group Inc. ADV increased its holdings in shares of 3M by 2.4% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,776 shares of the conglomerate’s stock worth $481,000 after buying an additional 65 shares during the last quarter. Finally, Notis McConarty Edward grew its holdings in shares of 3M by 0.3% during the 2nd quarter. Notis McConarty Edward now owns 25,814 shares of the conglomerate’s stock valued at $4,474,000 after purchasing an additional 67 shares during the last quarter. 66.78% of the stock is currently owned by institutional investors and hedge funds.

In other 3M news, insider John Patrick Banovetz sold 1,040 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $170.40, for a total transaction of $177,216.00. Following the completion of the sale, the insider now owns 5,974 shares of the company’s stock, valued at approximately $1,017,969.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

MMM traded down $0.41 during trading on Wednesday, hitting $162.57. 211,763 shares of the stock traded hands, compared to its average volume of 2,882,862. The firm has a market capitalization of $90.95 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34. The firm has a 50-day moving average of $161.98 and a 200 day moving average of $174.72. 3M Co has a 12-month low of $150.58 and a 12-month high of $219.75.

3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The business had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $8.10 billion. 3M had a net margin of 15.27% and a return on equity of 55.05%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.59 EPS. As a group, equities analysts predict that 3M Co will post 9.21 EPS for the current fiscal year.

Several research firms recently commented on MMM. Credit Suisse Group increased their target price on shares of 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Royal Bank of Canada set a $179.00 target price on shares of 3M and gave the company a “hold” rating in a report on Friday, July 26th. Barclays reduced their target price on shares of 3M from $162.00 to $158.00 and set an “underweight” rating on the stock in a report on Thursday, October 3rd. UBS Group reduced their target price on shares of 3M from $201.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Citigroup reduced their target price on shares of 3M from $197.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. 3M currently has a consensus rating of “Hold” and a consensus target price of $179.54.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, 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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