Baltimore Washington Financial Advisors Inc. raised its position in shares of 3M Company (NYSE:MMM) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 42,116 shares of the conglomerate’s stock after buying an additional 656 shares during the period. 3M makes up approximately 2.1% of Baltimore Washington Financial Advisors Inc.’s portfolio, making the stock its 15th largest position. Baltimore Washington Financial Advisors Inc.’s holdings in 3M were worth $8,768,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. raised its position in shares of 3M by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 714 shares of the conglomerate’s stock worth $128,000 after buying an additional 4 shares during the period. Founders Capital Management LLC raised its position in shares of 3M by 0.4% in the first quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock valued at $371,000 after buying an additional 8 shares during the last quarter. Baystate Wealth Management LLC raised its position in shares of 3M by 0.6% in the first quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock valued at $370,000 after buying an additional 11 shares during the last quarter. Capital Management Corp VA raised its position in shares of 3M by 0.3% in the first quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock valued at $753,000 after buying an additional 11 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas raised its position in shares of 3M by 0.7% in the first quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock valued at $374,000 after buying an additional 13 shares during the last quarter. 65.74% of the stock is owned by institutional investors and hedge funds.

Shares of 3M Company (NYSE MMM) traded down 0.04% during trading on Monday, hitting $211.69. 955,343 shares of the company traded hands. 3M Company has a one year low of $163.85 and a one year high of $214.57. The stock has a market cap of $126.43 billion, a price-to-earnings ratio of 25.60 and a beta of 1.09. The firm has a 50 day moving average price of $204.94 and a 200-day moving average price of $190.31.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $2.16 EPS for the quarter, topping the consensus estimate of $2.07 by $0.09. The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.48 billion. 3M had a net margin of 16.78% and a return on equity of 44.95%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.95 earnings per share. Analysts predict that 3M Company will post $8.98 EPS for the current year.

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Several research analysts have weighed in on MMM shares. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $213.00 target price on the stock in a research report on Wednesday, March 29th. Vetr upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $183.19 target price on the stock in a research report on Friday, April 14th. Barclays PLC restated an “overweight” rating and set a $201.00 target price (up from $200.00) on shares of 3M in a research report on Wednesday, April 19th. Jefferies Group LLC upped their target price on shares of 3M from $210.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Finally, Stifel Nicolaus upped their target price on shares of 3M from $190.00 to $202.00 and gave the stock a “hold” rating in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. 3M presently has an average rating of “Hold” and an average target price of $201.55.

In related news, insider Jon T. Lindekugel sold 1,300 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $197.22, for a total transaction of $256,386.00. Following the transaction, the insider now owns 2,238 shares of the company’s stock, valued at $441,378.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the transaction, the vice president now directly owns 24,480 shares in the company, valued at approximately $4,770,662.40. The disclosure for this sale can be found here. Insiders sold 33,698 shares of company stock valued at $6,593,443 over the last 90 days. 0.58% of the stock is owned by corporate insiders.

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, electronics, 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.

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

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