3M Company (MMM) Shares Sold by Capital One National Association

Capital One National Association cut its stake in shares of 3M Company (NYSE:MMM) by 10.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,800 shares of the conglomerate’s stock after selling 5,776 shares during the period. 3M makes up about 0.7% of Capital One National Association’s holdings, making the stock its 26th largest position. Capital One National Association’s holdings in 3M were worth $9,911,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MMM. Jackson Grant Investment Advisers Inc. increased its stake in 3M by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 714 shares of the conglomerate’s stock valued at $128,000 after buying an additional 4 shares during the last quarter. Founders Capital Management LLC increased its stake in 3M by 0.4% in the first quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock valued at $371,000 after buying an additional 8 shares during the last quarter. Baystate Wealth Management LLC increased its stake in 3M by 0.6% in the first quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock valued at $370,000 after buying an additional 11 shares during the last quarter. Capital Management Corp VA increased its stake in 3M by 0.3% in the first quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock valued at $753,000 after buying an additional 11 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas increased its stake in 3M by 0.7% in the first quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock valued at $374,000 after buying an additional 13 shares during the last quarter. 65.80% of the stock is owned by institutional investors and hedge funds.

3M Company (MMM) traded down 0.49% on Tuesday, reaching $206.43. The company’s stock had a trading volume of 1,855,782 shares. The firm has a 50-day moving average price of $208.87 and a 200 day moving average price of $195.42. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57. The firm has a market capitalization of $123.19 billion, a P/E ratio of 23.55 and a beta of 1.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. The company had revenue of $7.81 billion for the quarter, compared to analyst estimates of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $2.08 earnings per share. Equities analysts anticipate that 3M Company will post $8.94 earnings per share for the current fiscal year.

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Several research firms have recently weighed in on MMM. Morgan Stanley increased their price objective on 3M from $178.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, June 9th. BidaskClub downgraded 3M from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a report on Monday, June 19th. Stifel Nicolaus reissued a “hold” rating and issued a $202.00 price objective on shares of 3M in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $209.00 price objective (down from $210.00) on shares of 3M in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. 3M presently has an average rating of “Hold” and a consensus target price of $203.40.

In other news, insider James L. Bauman sold 14,616 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $195.81, for a total transaction of $2,861,958.96. Following the sale, the insider now directly owns 16,458 shares of the company’s stock, valued at $3,222,640.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $194.88, for a total value of $2,877,598.08. Following the sale, the vice president now directly owns 24,480 shares in the company, valued at $4,770,662.40. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

About 3M

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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