Investec Asset Management LTD boosted its stake in shares of 3M Company (NYSE:MMM) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 942,737 shares of the conglomerate’s stock after buying an additional 35,325 shares during the period. Investec Asset Management LTD’s holdings in 3M were worth $180,374,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. raised its position in 3M by 37.1% in the first quarter. American Century Companies Inc. now owns 3,148,266 shares of the conglomerate’s stock valued at $602,358,000 after buying an additional 852,262 shares during the last quarter. Karp Capital Management Corp raised its position in 3M by 16,353.8% in the first quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock valued at $94,947,000 after buying an additional 493,230 shares during the last quarter. Swiss National Bank raised its position in 3M by 26.6% in the first quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock valued at $407,782,000 after buying an additional 447,900 shares during the last quarter. Bank of New York Mellon Corp raised its position in 3M by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock valued at $1,309,651,000 after buying an additional 300,345 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in 3M by 92.6% in the first quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock valued at $87,828,000 after buying an additional 220,741 shares during the last quarter. Institutional investors own 65.80% of the company’s stock.

Shares of 3M Company (MMM) traded down 0.3684% during trading on Wednesday, hitting $205.6695. 441,138 shares of the stock traded hands. The firm has a market cap of $122.74 billion, a PE ratio of 23.4595 and a beta of 1.08. The company’s 50 day moving average is $208.87 and its 200 day moving average is $195.42. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. 3M had a net margin of 17.65% and a return on equity of 47.83%. The company had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. 3M’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that 3M Company will post $8.94 EPS for the current year.

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MMM has been the topic of several recent analyst reports. Jefferies Group LLC boosted their target price on shares of 3M from $210.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Credit Suisse Group reiterated a “buy” rating on shares of 3M in a report on Thursday, April 27th. Stifel Nicolaus boosted their target price on shares of 3M from $190.00 to $202.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. 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 report on Friday, April 14th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $201.00 target price (up from $200.00) on shares of 3M in a report on Wednesday, April 19th. 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 stock. 3M currently has a consensus rating of “Hold” and a consensus price target of $203.40.

In related news, insider James L. Bauman sold 14,616 shares of the business’s stock in a transaction that occurred on 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 directly owns 16,458 shares in the company, valued at $3,222,640.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the business’s stock in a transaction that occurred on 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 $4,770,662.40. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by 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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