Squarepoint Ops LLC Purchases New Holdings in 3M Co (MMM)

Squarepoint Ops LLC purchased a new stake in 3M Co (NYSE:MMM) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,727 shares of the conglomerate’s stock, valued at approximately $329,000.

Several other large investors also recently made changes to their positions in MMM. Capital Insight Partners LLC boosted its position in shares of 3M by 0.6% in the 4th quarter. Capital Insight Partners LLC now owns 8,852 shares of the conglomerate’s stock worth $1,687,000 after purchasing an additional 56 shares in the last quarter. Sawyer & Company Inc boosted its position in shares of 3M by 1.6% in the 4th quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 60 shares in the last quarter. Atlas Brown Inc. boosted its position in shares of 3M by 0.9% in the 4th quarter. Atlas Brown Inc. now owns 6,928 shares of the conglomerate’s stock worth $1,320,000 after purchasing an additional 60 shares in the last quarter. Providence Wealth Advisors LLC boosted its position in shares of 3M by 0.9% in the 4th quarter. Providence Wealth Advisors LLC now owns 6,851 shares of the conglomerate’s stock worth $1,297,000 after purchasing an additional 61 shares in the last quarter. Finally, Integrated Investment Consultants LLC boosted its position in shares of 3M by 2.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 2,677 shares of the conglomerate’s stock worth $511,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 67.20% of the company’s stock.

MMM has been the subject of a number of recent analyst reports. Barclays lowered their price objective on 3M from $190.00 to $189.00 and set an “underweight” rating for the company in a research report on Thursday, January 3rd. reissued a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. JPMorgan Chase & Co. lowered their price objective on 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research report on Friday, March 29th. Zacks Investment Research reaffirmed a “hold” rating on shares of 3M in a research report on Monday, December 31st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $220.00 price target (down previously from $230.00) on shares of 3M in a research report on Thursday, January 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. 3M presently has an average rating of “Hold” and an average target price of $205.50.

In other 3M news, Chairman Inge G. Thulin sold 5,863 shares of 3M stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $207.78, for a total transaction of $1,218,214.14. Following the completion of the transaction, the chairman now owns 268,188 shares in the company, valued at approximately $55,724,102.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total value of $2,699,800.00. Following the transaction, the chairman now owns 230,458 shares of the company’s stock, valued at approximately $46,091,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,414 shares of company stock valued at $15,553,682. 0.83% of the stock is currently owned by insiders.

Shares of MMM opened at $218.88 on Friday. 3M Co has a one year low of $176.87 and a one year high of $220.28. The company has a quick ratio of 1.29, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The stock has a market cap of $126.03 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.02 and a beta of 1.05.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 EPS for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.03. 3M had a return on equity of 57.70% and a net margin of 16.33%. The company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that 3M Co will post 10.51 earnings per share for the current year.

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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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