Gs Investments Inc. Takes Position in 3M Company (MMM)
Gs Investments Inc. bought a new stake in 3M Company (NYSE:MMM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,965 shares of the conglomerate’s stock, valued at approximately $409,000.
Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in 3M by 0.3% in the 1st quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock valued at $626,792,000 after purchasing an additional 8,239 shares during the last quarter. Smithfield Trust Co. grew its stake in shares of 3M by 0.7% in the first quarter. Smithfield Trust Co. now owns 17,364 shares of the conglomerate’s stock worth $3,322,000 after acquiring an additional 122 shares in the last quarter. C.V. Starr & Co. Inc. Trust grew its stake in shares of 3M by 20.0% in the first quarter. C.V. Starr & Co. Inc. Trust now owns 60,000 shares of the conglomerate’s stock worth $11,480,000 after acquiring an additional 10,000 shares in the last quarter. Twin Capital Management Inc. acquired a new position in shares of 3M in the second quarter worth $6,178,000. Finally, Gotham Asset Management LLC grew its stake in shares of 3M by 3.6% in the first quarter. Gotham Asset Management LLC now owns 99,873 shares of the conglomerate’s stock worth $19,109,000 after acquiring an additional 3,427 shares in the last quarter. Hedge funds and other institutional investors own 66.18% of the company’s stock.
Shares of 3M Company (MMM) traded up 0.28% during trading on Friday, hitting $219.86. 260,708 shares of the company were exchanged. The company’s 50-day moving average price is $212.01 and its 200 day moving average price is $204.96. 3M Company has a 12 month low of $163.85 and a 12 month high of $220.76. The stock has a market cap of $131.21 billion, a P/E ratio of 25.08 and a beta of 1.09.
3M (NYSE:MMM) last released its quarterly earnings results 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). The firm had revenue of $7.81 billion for 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%. 3M’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 earnings per share. On average, equities analysts predict that 3M Company will post $8.96 earnings per share for the current fiscal year.
WARNING: “Gs Investments Inc. Takes Position in 3M Company (MMM)” was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/10/20/gs-investments-inc-takes-position-in-3m-company-mmm.html.
Several equities analysts have commented on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $209.00 price target on shares of 3M in a research note on Friday, September 15th. Jefferies Group LLC restated a “buy” rating and issued a $234.00 price target on shares of 3M in a research note on Wednesday, August 16th. J P Morgan Chase & Co downgraded shares of 3M from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $185.00 to $201.00 in a research note on Wednesday, September 20th. Morgan Stanley boosted their price target on shares of 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a research note on Monday, October 2nd. Finally, BidaskClub downgraded shares of 3M from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $209.77.
In related news, insider Paul A. Keel sold 4,965 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the completion of the sale, the insider now directly owns 5,503 shares of the company’s stock, valued at approximately $1,134,498.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric D. Hammes sold 1,428 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $206.66, for a total transaction of $295,110.48. Following the sale, the vice president now directly owns 3,066 shares of the company’s stock, valued at $633,619.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,112 shares of company stock valued at $1,878,890. Company insiders own 0.58% of the company’s stock.
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.
Receive News & Ratings for 3M Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Company and related companies with MarketBeat.com's FREE daily email newsletter.