Home Federal Bank of Tennessee boosted its position in shares of 3M Company (NYSE:MMM) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,874 shares of the conglomerate’s stock after buying an additional 125 shares during the period. 3M comprises 1.4% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 6th largest position. Home Federal Bank of Tennessee’s holdings in 3M were worth $2,680,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Osborne Partners Capital Management LLC increased its stake in 3M by 1.0% in the second quarter. Osborne Partners Capital Management LLC now owns 2,272 shares of the conglomerate’s stock worth $473,000 after buying an additional 22 shares during the period. Bridges Investment Counsel Inc. increased its stake in 3M by 67.4% in the second quarter. Bridges Investment Counsel Inc. now owns 22,218 shares of the conglomerate’s stock worth $4,626,000 after buying an additional 8,947 shares during the period. Private Bank & Trust Co. increased its stake in 3M by 14.1% in the second quarter. Private Bank & Trust Co. now owns 9,275 shares of the conglomerate’s stock worth $1,931,000 after buying an additional 1,149 shares during the period. Vicus Capital increased its stake in 3M by 11.1% in the second quarter. Vicus Capital now owns 1,374 shares of the conglomerate’s stock worth $286,000 after buying an additional 137 shares during the period. Finally, Capital Insight Partners LLC increased its stake in 3M by 0.3% in the second quarter. Capital Insight Partners LLC now owns 10,732 shares of the conglomerate’s stock worth $2,234,000 after buying an additional 35 shares during the period. 65.76% of the stock is owned by hedge funds and other institutional investors.

3M Company (NYSE MMM) traded down 0.49% on Friday, hitting $206.60. The company had a trading volume of 632,836 shares. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.57. The stock has a market cap of $123.29 billion, a P/E ratio of 23.57 and a beta of 1.08. The firm’s 50 day moving average price is $209.15 and its 200 day moving average price is $195.17.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01. The business had revenue of $7.81 billion during the quarter, compared to analyst estimates of $7.86 billion. 3M had a net margin of 17.65% and a return on equity of 47.83%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. Equities analysts predict that 3M Company will post $8.94 earnings per share for the current fiscal year.

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A number of research firms have issued reports on MMM. Stifel Nicolaus reissued a “hold” rating and set a $210.00 price target on shares of 3M in a research report on Friday, July 28th. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Citigroup Inc. lowered their price target on 3M from $230.00 to $228.00 and set a “buy” rating for the company in a research report on Wednesday, July 26th. Morgan Stanley reissued an “underweight” rating and set a $190.00 price target (down previously from $191.00) on shares of 3M in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $209.00 price target (down previously from $210.00) on shares of 3M in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and an average price target of $203.40.

In related news, insider James L. Bauman sold 14,616 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $195.81, for a total value of $2,861,958.96. Following the completion of the sale, the insider now owns 16,458 shares in the company, valued at $3,222,640.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the completion of the sale, the vice president now owns 24,480 shares of the company’s stock, valued at approximately $4,770,662.40. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

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.

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

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