Livingston Group Asset Management CO operating as Southport Capital Management cut its stake in shares of 3M Co (NYSE:MMM) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,163 shares of the conglomerate’s stock after selling 960 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in 3M were worth $1,793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pacific Wealth Strategies Group Inc. increased its position in shares of 3M by 2.3% during the fourth quarter. Pacific Wealth Strategies Group Inc. now owns 11,881 shares of the conglomerate’s stock valued at $2,096,000 after buying an additional 264 shares during the period. Broderick Brian C increased its position in shares of 3M by 0.7% during the fourth quarter. Broderick Brian C now owns 39,297 shares of the conglomerate’s stock valued at $6,934,000 after buying an additional 265 shares during the period. AE Wealth Management LLC increased its position in shares of 3M by 7.0% during the fourth quarter. AE Wealth Management LLC now owns 23,551 shares of the conglomerate’s stock valued at $4,155,000 after buying an additional 1,533 shares during the period. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of 3M by 5.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 2,480 shares of the conglomerate’s stock valued at $438,000 after buying an additional 125 shares during the period. Finally, Moseley Investment Management Inc. increased its position in shares of 3M by 11.9% during the fourth quarter. Moseley Investment Management Inc. now owns 5,264 shares of the conglomerate’s stock valued at $929,000 after buying an additional 561 shares during the period. Hedge funds and other institutional investors own 66.53% of the company’s stock.

In other 3M news, SVP Eric D. Hammes sold 1,341 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total value of $233,669.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Khandpur K. Ashish sold 3,362 shares of the company’s stock in a transaction dated 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. In the last ninety days, insiders sold 13,216 shares of company stock valued at $2,233,940. 0.83% of the stock is owned by insiders.

Several equities research analysts have recently weighed in on the company. Wolfe Research upgraded 3M from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. upgraded 3M from an “underweight” rating to a “neutral” rating and upped their price target for the company from $143.00 to $150.00 in a research report on Monday, December 23rd. Citigroup lowered 3M from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Monday, December 9th. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 price objective on the stock in a research report on Tuesday, December 10th. Finally, Deutsche Bank raised their target price on shares of 3M from $160.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $174.08.

NYSE MMM traded up $0.43 during trading hours on Thursday, reaching $180.21. 732,596 shares of the stock traded hands, compared to its average volume of 2,378,795. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The stock has a 50 day simple moving average of $174.13 and a two-hundred day simple moving average of $168.47. 3M Co has a 1 year low of $150.58 and a 1 year high of $219.75. The company has a market cap of $104.30 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10.

3M (NYSE:MMM) last posted its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.09. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $8.20 billion. 3M had a return on equity of 54.02% and a net margin of 15.48%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 EPS. On average, sell-side analysts forecast that 3M Co will post 9.04 EPS for the current fiscal year.

About 3M

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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