17,328 Shares in 3M Company (MMM) Acquired by Two Sigma Securities LLC
Two Sigma Securities LLC acquired a new position in 3M Company (NYSE:MMM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 17,328 shares of the conglomerate’s stock, valued at approximately $3,315,000. 3M makes up about 0.6% of Two Sigma Securities LLC’s investment portfolio, making the stock its 18th largest position.
Other large investors also recently modified their holdings of the company. Capital Investment Counsel Inc boosted its stake in shares of 3M by 7.0% in the first quarter. Capital Investment Counsel Inc now owns 2,889 shares of the conglomerate’s stock worth $553,000 after buying an additional 189 shares during the period. Cable Hill Partners LLC boosted its stake in shares of 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock worth $122,000 after buying an additional 15 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in shares of 3M by 4.8% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 6,600 shares of the conglomerate’s stock worth $1,262,000 after buying an additional 300 shares during the period. Trust Co. of Oklahoma boosted its stake in shares of 3M by 3.4% in the first quarter. Trust Co. of Oklahoma now owns 8,007 shares of the conglomerate’s stock worth $1,532,000 after buying an additional 265 shares during the period. Finally, Forte Capital LLC ADV boosted its stake in shares of 3M by 42.2% in the first quarter. Forte Capital LLC ADV now owns 2,962 shares of the conglomerate’s stock worth $567,000 after buying an additional 879 shares during the period. Hedge funds and other institutional investors own 65.80% of the company’s stock.
Shares of 3M Company (NYSE:MMM) traded down 0.12% on Friday, hitting $205.98. The stock had a trading volume of 1,452,811 shares. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.57. The stock has a 50 day moving average price of $207.94 and a 200-day moving average price of $196.43. The company has a market cap of $122.92 billion, a price-to-earnings ratio of 23.49 and a beta of 1.08.
3M (NYSE:MMM) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 EPS 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 firm had revenue of $7.81 billion for the quarter, compared to analyst estimates of $7.86 billion. During the same quarter last year, the firm posted $2.08 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts expect that 3M Company will post $8.94 earnings per share for the current year.
A number of equities research analysts recently weighed in on MMM shares. Vetr upgraded 3M from a “sell” rating to a “hold” rating and set a $183.19 price objective for the company in a research note on Friday, April 14th. Barclays PLC restated an “overweight” rating and set a $201.00 price objective (up from $200.00) on shares of 3M in a research note on Wednesday, April 19th. Jefferies Group LLC upped their price objective on 3M from $210.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Stifel Nicolaus upped their price objective on 3M from $190.00 to $202.00 and gave the stock a “hold” rating in a research note on Wednesday, April 26th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of 3M in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $203.40.
In other news, VP Marlene Mary Mcgrath sold 14,766 shares of 3M stock in a transaction dated 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 sale, the vice president now owns 24,480 shares in the company, valued at $4,770,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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