JustInvest LLC raised its stake in shares of 3M (NYSE:MMM) by 120.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,355 shares of the conglomerate’s stock after buying an additional 6,201 shares during the quarter. JustInvest LLC’s holdings in 3M were worth $2,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hartford Investment Management Co. boosted its position in shares of 3M by 2.6% during the 1st quarter. Hartford Investment Management Co. now owns 71,567 shares of the conglomerate’s stock valued at $13,790,000 after acquiring an additional 1,806 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. boosted its position in shares of 3M by 30.8% during the 1st quarter. Beacon Harbor Wealth Advisors Inc. now owns 22,204 shares of the conglomerate’s stock valued at $4,278,000 after acquiring an additional 5,226 shares during the last quarter. First Trust Advisors LP boosted its position in shares of 3M by 6.0% during the 4th quarter. First Trust Advisors LP now owns 1,174,100 shares of the conglomerate’s stock valued at $205,221,000 after acquiring an additional 66,839 shares during the last quarter. Elk River Wealth Management LLC bought a new position in shares of 3M during the 4th quarter valued at approximately $3,137,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of 3M by 284.5% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,090 shares of the conglomerate’s stock valued at $1,938,000 after acquiring an additional 8,206 shares during the last quarter. Hedge funds and other institutional investors own 64.68% of the company’s stock.

Shares of 3M stock traded up $0.04 on Tuesday, reaching $198.65. The company’s stock had a trading volume of 27,231 shares, compared to its average volume of 2,705,453. The company has a market capitalization of $115.15 billion, a P/E ratio of 23.28, a PEG ratio of 1.85 and a beta of 0.92. 3M has a 52-week low of $131.12 and a 52-week high of $203.15. The stock has a 50-day moving average price of $195.03 and a 200-day moving average price of $178.49. The company has a quick ratio of 1.37, a current ratio of 1.90 and a debt-to-equity ratio of 1.54.

3M (NYSE:MMM) last posted its quarterly earnings data on Monday, April 26th. The conglomerate reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.48. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.43 billion. 3M had a return on equity of 44.77% and a net margin of 15.65%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 earnings per share. Sell-side analysts forecast that 3M will post 8.56 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on MMM. Citigroup raised their price target on 3M from $185.00 to $188.00 in a research report on Wednesday, January 27th. Barclays lifted their target price on 3M from $163.00 to $180.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft lifted their target price on 3M from $192.00 to $199.00 and gave the stock a “hold” rating in a research report on Wednesday, April 28th. Bank of America downgraded 3M from a “neutral” rating to an “underperform” rating and set a $170.00 target price for the company. in a research report on Thursday, January 7th. Finally, Credit Suisse Group decreased their target price on 3M from $213.00 to $210.00 and set an “outperform” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. 3M presently has a consensus rating of “Hold” and a consensus target price of $193.45.

In related news, EVP Kristen M. Ludgate sold 933 shares of the business’s stock in a transaction that occurred on Wednesday, April 21st. The stock was sold at an average price of $200.00, for a total transaction of $186,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ivan K. Fong sold 12,059 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $198.46, for a total value of $2,393,229.14. Following the sale, the vice president now owns 47,872 shares of the company’s stock, valued at $9,500,677.12. The disclosure for this sale can be found here. Insiders sold 13,042 shares of company stock valued at $2,588,687 over the last 90 days. Company insiders own 0.42% of the company’s stock.

About 3M

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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

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