Glynn Capital Management LLC Invests $843,000 in 3M Co (MMM)

Glynn Capital Management LLC bought a new stake in 3M Co (NYSE:MMM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,000 shares of the conglomerate’s stock, valued at approximately $843,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SRS Capital Advisors Inc. raised its stake in shares of 3M by 1,652.8% during the 2nd quarter. SRS Capital Advisors Inc. now owns 631 shares of the conglomerate’s stock valued at $124,000 after purchasing an additional 595 shares during the period. Price Capital Management Inc. bought a new stake in shares of 3M during the 3rd quarter valued at $126,000. Avestar Capital LLC raised its stake in shares of 3M by 161.2% during the 2nd quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock valued at $130,000 after purchasing an additional 432 shares during the period. Braun Bostich & Associates Inc. raised its stake in shares of 3M by 221.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 481 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of 3M during the 2nd quarter valued at $149,000. Hedge funds and other institutional investors own 67.66% of the company’s stock.

In other 3M news, Director Gregory R. Page bought 1,000 shares of 3M stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $184.50 per share, for a total transaction of $184,500.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $276,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric D. Hammes sold 1,272 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $216.00, for a total value of $274,752.00. Following the transaction, the insider now owns 5,634 shares of the company’s stock, valued at $1,216,944. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

3M stock opened at $201.10 on Friday. 3M Co has a 52 week low of $181.98 and a 52 week high of $259.77. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.97 and a quick ratio of 1.36. The stock has a market cap of $113.72 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.18.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.12). 3M had a return on equity of 54.60% and a net margin of 13.79%. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.41 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. 3M’s quarterly revenue was down .2% compared to the same quarter last year. As a group, equities research analysts predict that 3M Co will post 10.02 earnings per share for the current fiscal year.

A number of research firms recently issued reports on MMM. Morgan Stanley began coverage on 3M in a research note on Monday, August 20th. They set an “equal weight” rating and a $212.00 price objective on the stock. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research note on Monday, September 3rd. Barclays decreased their price objective on 3M from $201.00 to $195.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 24th. UBS Group boosted their price objective on 3M from $215.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Finally, ValuEngine upgraded 3M from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $225.23.

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3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and 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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