Puzo Michael J Has $6.59 Million Stock Holdings in 3M Co (NYSE:MMM)

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Puzo Michael J decreased its stake in shares of 3M Co (NYSE:MMM) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,343 shares of the conglomerate’s stock after selling 560 shares during the quarter. 3M comprises 2.4% of Puzo Michael J’s investment portfolio, making the stock its 19th biggest position. Puzo Michael J’s holdings in 3M were worth $6,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC increased its position in 3M by 1,337.4% during the 2nd 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 during the period. Point72 Asset Management L.P. grew its stake in shares of 3M by 351.5% in the second quarter. Point72 Asset Management L.P. now owns 540,727 shares of the conglomerate’s stock valued at $93,730,000 after acquiring an additional 755,727 shares in the last quarter. BlackRock Inc. grew its stake in shares of 3M by 1.2% in the second quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock valued at $6,783,640,000 after acquiring an additional 472,084 shares in the last quarter. AQR Capital Management LLC increased its position in 3M by 96.5% during the second quarter. AQR Capital Management LLC now owns 808,435 shares of the conglomerate’s stock worth $140,134,000 after acquiring an additional 396,952 shares during the period. Finally, California Public Employees Retirement System increased its position in 3M by 27.4% during the third quarter. California Public Employees Retirement System now owns 1,313,035 shares of the conglomerate’s stock worth $215,863,000 after acquiring an additional 282,135 shares during the period. Institutional investors and hedge funds own 66.53% of the company’s stock.

Shares of NYSE:MMM opened at $179.78 on Thursday. The firm has a 50 day moving average of $174.13 and a 200-day moving average of $168.47. The stock has a market capitalization of $104.30 billion, a PE ratio of 17.19, a PEG ratio of 1.99 and a beta of 1.10. The company has a current ratio of 2.30, a quick ratio of 1.79 and a debt-to-equity ratio of 1.68. 3M Co has a 12 month low of $150.58 and a 12 month high of $219.75.

3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.09. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $8.20 billion. 3M had a net margin of 15.48% and a return on equity of 54.02%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. On average, research analysts predict that 3M Co will post 9.04 EPS for the current fiscal year.

MMM has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of 3M from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $143.00 to $150.00 in a report on Monday, December 23rd. Citigroup cut shares of 3M from a “buy” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Monday, December 9th. Wolfe Research upgraded shares of 3M from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 9th. UBS Group cut 3M from a “neutral” rating to a “sell” rating and cut their price target for the company from $180.00 to $160.00 in a research note on Thursday, December 12th. Finally, Morgan Stanley reduced their price target on 3M from $177.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $174.08.

In other news, EVP Khandpur K. Ashish sold 3,362 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $174.20, for a total transaction of $585,660.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie L. Bushman sold 6,879 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $165.09, for a total value of $1,135,654.11. In the last ninety days, insiders sold 13,216 shares of company stock worth $2,233,940. Company 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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Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).

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

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