Brown Advisory Inc. Acquires 7,199 Shares of 3M Co. (MMM)
Brown Advisory Inc. raised its stake in 3M Co. (NYSE:MMM) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 263,650 shares of the company’s stock after buying an additional 7,199 shares during the period. Brown Advisory Inc.’s holdings in 3M were worth $46,170,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. Reilly Financial Advisors LLC raised its position in 3M by 38.1% in the second quarter. Reilly Financial Advisors LLC now owns 645 shares of the company’s stock valued at $113,000 after buying an additional 178 shares during the period. CenturyLink Investment Management Co bought a new stake in shares of 3M during the second quarter worth about $116,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of 3M by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock worth $124,000 after buying an additional 49 shares during the period. Parasol Investment Management LLC raised its stake in shares of 3M by 12.6% in the second quarter. Parasol Investment Management LLC now owns 896 shares of the company’s stock worth $157,000 after buying an additional 100 shares during the period. Finally, Pointe Capital Management LLC bought a new stake in shares of 3M during the second quarter worth about $201,000. Hedge funds and other institutional investors own 65.66% of the company’s stock.
Shares of 3M Co. (NYSE:MMM) opened at 169.95 on Wednesday. 3M Co. has a 1-year low of $134.64 and a 1-year high of $182.27. The company has a 50-day moving average of $175.52 and a 200-day moving average of $173.43. The company has a market cap of $102.72 billion, a PE ratio of 21.69 and a beta of 0.99.
3M (NYSE:MMM) last announced its earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.01. 3M had a net margin of 16.29% and a return on equity of 41.84%. The business earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the prior year, the company posted $2.02 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Equities analysts forecast that 3M Co. will post $8.21 EPS for the current year.
Several equities research analysts recently issued reports on MMM shares. Credit Suisse Group AG reaffirmed a “buy” rating on shares of 3M in a research note on Sunday, July 10th. Jefferies Group reaffirmed a “buy” rating on shares of 3M in a research note on Wednesday, July 6th. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Finally, Morgan Stanley reaffirmed a “sell” rating and issued a $168.00 price objective on shares of 3M in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $166.20.
In other 3M news, VP Khandpur K. Ashish sold 1,679 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $178.39, for a total value of $299,516.81. Following the completion of the sale, the vice president now owns 1,011 shares in the company, valued at $180,352.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul A. Keel sold 3,180 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $178.39, for a total transaction of $567,280.20. Following the completion of the sale, the insider now owns 9,961 shares of the company’s stock, valued at approximately $1,776,942.79. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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