Macnealy Hoover Investment Management Inc. trimmed its holdings in shares of 3M Co (NYSE:MMM) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,212 shares of the conglomerate’s stock after selling 400 shares during the period. 3M makes up about 1.4% of Macnealy Hoover Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Macnealy Hoover Investment Management Inc.’s holdings in 3M were worth $1,933,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Beach Investment Management LLC. acquired a new position in 3M in the 2nd quarter worth about $3,165,000. BKS Advisors LLC acquired a new position in 3M in the 2nd quarter worth about $251,000. ARGI Investment Services LLC increased its position in 3M by 6.5% in the 2nd quarter. ARGI Investment Services LLC now owns 3,352 shares of the conglomerate’s stock worth $683,000 after purchasing an additional 205 shares during the last quarter. Cannell Peter B & Co. Inc. increased its position in 3M by 0.8% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 35,700 shares of the conglomerate’s stock worth $7,432,000 after purchasing an additional 300 shares during the last quarter. Finally, Community Bank & Trust Waco Texas increased its position in 3M by 5.1% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 5,707 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 275 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Inge G. Thulin sold 6,823 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.14, for a total transaction of $1,590,714.22. Following the completion of the sale, the chairman now owns 196,906 shares in the company, valued at approximately $45,906,664.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ippocratis Vrohidis sold 1,725 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $230.34, for a total value of $397,336.50. Following the sale, the chief accounting officer now owns 898 shares of the company’s stock, valued at approximately $206,845.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,804 shares of company stock valued at $5,303,706. 0.58% of the stock is owned by corporate insiders.

Several brokerages have weighed in on MMM. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $271.00 target price on the stock in a research report on Monday, January 15th. Jefferies Group upped their price target on 3M to $262.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Royal Bank of Canada reiterated a “hold” rating and set a $205.00 price target on shares of 3M in a research note on Friday, October 13th. Stifel Nicolaus upped their price target on 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley upped their price target on 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a research note on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $235.01.

Shares of 3M Co (NYSE MMM) opened at $248.18 on Monday. The stock has a market capitalization of $147,818.03, a PE ratio of 27.73, a PEG ratio of 2.48 and a beta of 1.10. 3M Co has a 52 week low of $173.55 and a 52 week high of $249.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The company had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company posted $2.15 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. research analysts expect that 3M Co will post 9.1 earnings per share for the current year.

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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, , 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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