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.

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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.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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