Thompson Investment Management Inc. grew its stake in shares of 3M Co (NYSE:MMM) by 151.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,120 shares of the conglomerate’s stock after purchasing an additional 5,500 shares during the period. Thompson Investment Management Inc.’s holdings in 3M were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kempen Capital Management N.V. purchased a new position in 3M during the 2nd quarter valued at about $25,000. 1 North Wealth Services LLC purchased a new position in 3M during the 3rd quarter valued at about $26,000. Atwater Malick LLC purchased a new position in 3M during the 3rd quarter valued at about $30,000. Bridger Capital Management LLC purchased a new position in 3M during the 3rd quarter valued at about $33,000. Finally, Arcus Capital Partners LLC purchased a new position in 3M during the 2nd quarter valued at about $35,000. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

3M stock traded down $1.37 during trading hours on Friday, hitting $173.15. The stock had a trading volume of 1,615,575 shares, compared to its average volume of 2,790,791. The company has a quick ratio of 1.79, a current ratio of 2.30 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $100.79 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. 3M Co has a 12-month low of $150.58 and a 12-month high of $219.75. The stock’s 50-day moving average price is $163.74 and its 200-day moving average price is $169.38.

3M (NYSE:MMM) last issued its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.09. The business had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $8.20 billion. 3M had a net margin of 15.48% and a return on equity of 54.02%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 earnings per share. On average, research analysts expect that 3M Co will post 9.09 EPS for the current fiscal year.

In other news, SVP Eric D. Hammes sold 1,341 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total transaction of $233,669.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Khandpur K. Ashish sold 3,362 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $174.20, for a total transaction of $585,660.40. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

A number of brokerages recently issued reports on MMM. Barclays lowered their price target on shares of 3M from $158.00 to $157.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. Morgan Stanley lowered their price target on shares of 3M from $173.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Credit Suisse Group lifted their price target on shares of 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Citigroup lowered their price target on shares of 3M from $197.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Wolfe Research set a $177.00 price target on shares of 3M and gave the company a “sell” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $174.08.

3M 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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