3M Company (MMM) Shares Bought by Massey Quick Simon & CO. LLC

Massey Quick Simon & CO. LLC grew its holdings in 3M Company (NYSE:MMM) by 65.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,706 shares of the conglomerate’s stock after purchasing an additional 1,066 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in 3M were worth $568,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MMM. Bank of New York Mellon Corp lifted its stake in shares of 3M by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock valued at $1,309,651,000 after buying an additional 300,345 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of 3M by 3.9% in the first quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock valued at $844,511,000 after buying an additional 167,491 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of 3M by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock valued at $626,792,000 after buying an additional 8,239 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of 3M by 3.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,796,201 shares of the conglomerate’s stock valued at $534,998,000 after buying an additional 92,789 shares during the period. Finally, Swiss National Bank lifted its stake in shares of 3M by 26.6% in the first quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock valued at $407,782,000 after buying an additional 447,900 shares during the period. 66.26% of the stock is currently owned by institutional investors.

In other news, CFO Nicholas C. Gangestad sold 4,004 shares of 3M stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $233.84, for a total value of $936,295.36. Following the completion of the transaction, the chief financial officer now owns 25,805 shares in the company, valued at $6,034,241.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders sold 26,951 shares of company stock valued at $6,159,012 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

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3M Company (NYSE MMM) traded up $1.27 during trading hours on Tuesday, hitting $229.49. 437,924 shares of the stock were exchanged, compared to its average volume of 1,841,098. 3M Company has a 52 week low of $170.72 and a 52 week high of $238.90. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $135,471.08, a PE ratio of 25.41, a P/E/G ratio of 2.46 and a beta of 1.08.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The company had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. 3M’s quarterly revenue was up 6.0% compared to the same quarter last year. analysts anticipate that 3M Company will post 9.08 earnings per share for the current fiscal year.

MMM has been the subject of several research reports. Bank of America Corporation reiterated a “buy” rating and issued a $227.00 target price on shares of 3M in a research note on Thursday, September 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $234.00 target price on shares of 3M in a research note on Wednesday, August 16th. Citigroup Inc. reduced their target price on shares of 3M from $230.00 to $228.00 and set a “buy” rating for the company in a research note on Wednesday, July 26th. Argus increased their target price on shares of 3M from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $248.00 target price for the company in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. 3M presently has an average rating of “Hold” and an average price target of $231.16.

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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

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