Delaney Dennis R Cuts Stock Holdings in 3M Co (NYSE:MMM)

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Delaney Dennis R decreased its holdings in shares of 3M Co (NYSE:MMM) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,840 shares of the conglomerate’s stock after selling 790 shares during the quarter. 3M accounts for approximately 2.5% of Delaney Dennis R’s portfolio, making the stock its 18th largest position. Delaney Dennis R’s holdings in 3M were worth $1,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in 3M by 1.2% in the second quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock worth $6,783,640,000 after buying an additional 472,084 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 3M by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,025,635 shares of the conglomerate’s stock worth $1,812,615,000 after buying an additional 207,380 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in 3M by 1,337.4% in the second quarter. Nuveen Asset Management LLC now owns 2,830,790 shares of the conglomerate’s stock worth $490,689,000 after buying an additional 2,633,848 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in 3M by 5.5% in the second quarter. UBS Asset Management Americas Inc. now owns 2,145,026 shares of the conglomerate’s stock worth $371,819,000 after buying an additional 111,373 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in 3M by 7.2% in the third quarter. Parametric Portfolio Associates LLC now owns 1,923,101 shares of the conglomerate’s stock worth $316,158,000 after buying an additional 129,781 shares in the last quarter. 66.53% of the stock is owned by institutional investors.

Shares of MMM stock opened at $179.78 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.79 and a current ratio of 2.30. 3M Co has a fifty-two week low of $150.58 and a fifty-two week high of $219.75. The stock has a 50 day moving average price of $174.13 and a two-hundred day moving average price of $168.47. The company has a market capitalization of $104.30 billion, a P/E ratio of 17.19, a PEG ratio of 1.99 and a beta of 1.10.

3M (NYSE:MMM) last announced its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.09. 3M had a return on equity of 54.02% and a net margin of 15.48%. The firm had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that 3M Co will post 9.04 earnings per share for the current year.

Several analysts have issued reports on the company. Barclays cut their target price on 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley cut their target price on 3M from $177.00 to $173.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada cut their target price on 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Wolfe Research raised 3M from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. Finally, JPMorgan Chase & Co. raised 3M from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $143.00 to $150.00 in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. 3M currently has an average rating of “Hold” and an average price target of $174.08.

In other 3M news, EVP Khandpur K. Ashish sold 3,362 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $174.20, for a total value of $585,660.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric D. Hammes sold 1,341 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total value of $233,669.25. The disclosure for this sale can be found here. Insiders sold 13,216 shares of company stock valued at $2,233,940 in the last quarter. Corporate insiders own 0.83% of the company’s stock.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, 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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