Moloney Securities Asset Management LLC increased its stake in 3M Company (NYSE:MMM) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,240 shares of the conglomerate’s stock after buying an additional 94 shares during the period. 3M accounts for approximately 1.0% of Moloney Securities Asset Management LLC’s holdings, making the stock its 23rd largest position. Moloney Securities Asset Management LLC’s holdings in 3M were worth $1,924,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Cable Hill Partners LLC boosted its stake in 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock valued at $122,000 after buying an additional 15 shares in the last quarter. Reilly Financial Advisors LLC boosted its stake in 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock valued at $123,000 after buying an additional 24 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after buying an additional 404 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. Finally, American Research & Management Co. boosted its stake in 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock valued at $179,000 after buying an additional 70 shares in the last quarter. 65.80% of the stock is owned by hedge funds and other institutional investors.

3M Company (MMM) traded down 0.14% during mid-day trading on Monday, reaching $207.35. 501,817 shares of the company’s stock were exchanged. The firm has a market capitalization of $123.74 billion, a P/E ratio of 23.65 and a beta of 1.08. The company’s 50-day moving average is $209.15 and its 200 day moving average is $195.17. 3M Company has a one year low of $163.85 and a one year high of $214.57.

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

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Several equities research analysts have recently commented on the stock. Barclays PLC reaffirmed an “overweight” rating and issued a $201.00 target price (up from $200.00) on shares of 3M in a research report on Wednesday, April 19th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $223.00 target price for the company in a research report on Friday, May 26th. BidaskClub cut shares of 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $234.00 target price on shares of 3M in a research report on Thursday, June 1st. Finally, Bank of America Corporation reissued a “buy” rating and set a $225.00 price target (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $203.40.

In other 3M 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 transaction of $2,861,958.96. Following the completion of the sale, the insider now directly owns 16,458 shares of the company’s stock, valued at $3,222,640.98. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 sale, the vice president now directly owns 24,480 shares of the company’s stock, valued at $4,770,662.40. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

3M Company Profile

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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