3M Company (MMM) Shares Sold by West Coast Financial LLC
West Coast Financial LLC reduced its position in 3M Company (NYSE:MMM) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,354 shares of the company’s stock after selling 377 shares during the period. 3M Company makes up 1.9% of West Coast Financial LLC’s portfolio, making the stock its 13th largest position. West Coast Financial LLC’s holdings in 3M Company were worth $6,054,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Cable Hill Partners LLC increased its stake in shares of 3M Company by 5.0% in the second quarter. Cable Hill Partners LLC now owns 583 shares of the company’s stock worth $103,000 after buying an additional 28 shares during the period. Jackson Grant Investment Advisers Inc. increased its stake in shares of 3M Company by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock worth $124,000 after buying an additional 49 shares during the period. Cascade Investment Advisors Inc. bought a new stake in shares of 3M Company during the second quarter worth approximately $125,000. Balentine LLC increased its stake in shares of 3M Company by 41.1% in the second quarter. Balentine LLC now owns 762 shares of the company’s stock worth $133,000 after buying an additional 222 shares during the period. Finally, Krilogy Financial LLC increased its stake in shares of 3M Company by 1.9% in the second quarter. Krilogy Financial LLC now owns 814 shares of the company’s stock worth $143,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 63.25% of the company’s stock.
3M Company (NYSE:MMM) traded up 0.15% during midday trading on Friday, reaching $177.70. 373,198 shares of the company’s stock were exchanged. The company has a market cap of $106.88 billion, a price-to-earnings ratio of 22.41 and a beta of 1.05. 3M Company has a 52 week low of $134.64 and a 52 week high of $182.27. The firm has a 50-day moving average price of $176.56 and a 200 day moving average price of $175.58.
3M Company (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.14 by $0.01. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.72 billion. 3M Company had a net margin of 16.40% and a return on equity of 42.27%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. Analysts anticipate that 3M Company will post $8.16 EPS for the current year.
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MMM has been the topic of several recent analyst reports. Credit Suisse Group reissued a “buy” rating and set a $195.00 target price on shares of 3M Company in a research note on Friday, September 16th. Jefferies Group reissued a “buy” rating and set a $210.00 target price (up from $200.00) on shares of 3M Company in a research note on Monday, November 28th. Zacks Investment Research raised shares of 3M Company from a “sell” rating to a “hold” rating in a research note on Tuesday, November 29th. Stifel Nicolaus boosted their target price on shares of 3M Company from $175.00 to $186.00 and gave the company a “hold” rating in a research note on Wednesday, December 14th. Finally, RBC Capital Markets set a $176.00 target price on shares of 3M Company and gave the company a “hold” rating in a research note on Wednesday, January 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $174.50.
In other news, VP Eric D. Hammes sold 436 shares of the business’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $174.00, for a total transaction of $75,864.00. Following the transaction, the vice president now directly owns 2,261 shares in the company, valued at approximately $393,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie L. Bushman sold 10,771 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $166.71, for a total transaction of $1,795,633.41. Following the transaction, the insider now owns 34,093 shares in the company, valued at $5,683,644.03. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.
About 3M Company
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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