Accredited Investors Inc. lessened its stake in 3M Co (NYSE:MMM) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,354 shares of the conglomerate’s stock after selling 718 shares during the period. 3M makes up about 0.4% of Accredited Investors Inc.’s holdings, making the stock its 27th biggest holding. Accredited Investors Inc.’s holdings in 3M were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Cadinha & Co. LLC boosted its stake in shares of 3M by 3.9% in the 2nd quarter. Cadinha & Co. LLC now owns 6,390 shares of the conglomerate’s stock valued at $1,257,000 after purchasing an additional 240 shares in the last quarter. Montecito Bank & Trust boosted its stake in shares of 3M by 3.8% in the 2nd quarter. Montecito Bank & Trust now owns 6,680 shares of the conglomerate’s stock valued at $1,314,000 after purchasing an additional 242 shares in the last quarter. Trust Department MB Financial Bank N A boosted its stake in shares of 3M by 12.0% in the 3rd quarter. Trust Department MB Financial Bank N A now owns 2,297 shares of the conglomerate’s stock valued at $484,000 after purchasing an additional 247 shares in the last quarter. REDW Stanley Financial Advisors LLC boosted its stake in shares of 3M by 8.2% in the 2nd quarter. REDW Stanley Financial Advisors LLC now owns 3,294 shares of the conglomerate’s stock valued at $648,000 after purchasing an additional 250 shares in the last quarter. Finally, Ascension Asset Management LLC boosted its stake in shares of 3M by 3.3% in the 2nd quarter. Ascension Asset Management LLC now owns 7,775 shares of the conglomerate’s stock valued at $1,529,000 after purchasing an additional 250 shares in the last quarter. 67.17% of the stock is owned by institutional investors and hedge funds.

Shares of MMM opened at $184.95 on Monday. The firm has a market cap of $108.49 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.81 and a beta of 1.15. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.97 and a quick ratio of 1.08. 3M Co has a twelve month low of $181.98 and a twelve month high of $259.77.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.12). 3M had a net margin of 13.79% and a return on equity of 54.60%. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.41 billion. During the same period in the previous year, the company earned $2.33 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities research analysts forecast that 3M Co will post 10.03 EPS for the current fiscal year.

In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $203.01, for a total value of $1,301,294.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric D. Hammes sold 1,272 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $216.00, for a total transaction of $274,752.00. Following the completion of the transaction, the insider now owns 5,634 shares of the company’s stock, valued at $1,216,944. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Several brokerages have weighed in on MMM. MED cut shares of 3M from a “buy” rating to a “hold” rating and set a $208.00 price target for the company. in a research report on Thursday, July 12th. Deutsche Bank reissued a “hold” rating and set a $208.00 price target on shares of 3M in a research report on Thursday, July 12th. ValuEngine raised shares of 3M from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $234.00 price target on shares of 3M in a research report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $225.23.

About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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