Arthur M. Cohen & Associates LLC raised its stake in shares of 3M Company (NYSE:MMM) by 28.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the conglomerate’s stock after buying an additional 670 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in 3M were worth $589,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Reilly Financial Advisors LLC increased its stake in shares of 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock worth $123,000 after buying an additional 24 shares during the period. Proficio Capital Partners LLC increased its stake in shares of 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock worth $131,000 after buying an additional 404 shares during the period. Jackson Grant Investment Advisers Inc. increased its stake in shares of 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after buying an additional 4 shares during the period. American Research & Management Co. increased its stake in shares of 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock worth $179,000 after buying an additional 70 shares during the period. Finally, American National Bank increased its stake in shares of 3M by 23.2% in the first quarter. American National Bank now owns 965 shares of the conglomerate’s stock worth $185,000 after buying an additional 182 shares during the period. Hedge funds and other institutional investors own 65.80% of the company’s stock.

Shares of 3M Company (MMM) opened at 205.98 on Friday. The company has a market cap of $122.92 billion, a price-to-earnings ratio of 23.49 and a beta of 1.08. The company has a 50 day moving average of $207.94 and a 200-day moving average of $196.43. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.57.

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

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MMM has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of 3M from $190.00 to $202.00 and gave the stock a “hold” rating in a report on Wednesday, April 26th. Morgan Stanley reiterated an “underweight” rating and set a $191.00 price target (down from $193.00) on shares of 3M in a report on Monday, July 10th. Credit Suisse Group reissued a “buy” rating on shares of 3M in a research report on Thursday, April 27th. Jefferies Group LLC raised 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, Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $223.00 target price on the stock in a research report on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. 3M presently has a consensus rating of “Hold” and a consensus price target of $203.40.

In other news, VP Marlene Mary Mcgrath sold 14,766 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $194.88, for a total value of $2,877,598.08. Following the completion of the sale, the vice president now directly owns 24,480 shares of the company’s stock, valued at $4,770,662.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is currently 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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