3M Company (MMM) Stake Increased by Rosenbaum Jay D.
Rosenbaum Jay D. raised its position in 3M Company (NYSE:MMM) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,119 shares of the company’s stock after buying an additional 44 shares during the period. 3M Company comprises 0.1% of Rosenbaum Jay D.’s portfolio, making the stock its 19th largest position. Rosenbaum Jay D.’s holdings in 3M Company were worth $1,078,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Delphi Private Advisors LLC raised its position in shares of 3M Company by 0.4% in the second quarter. Delphi Private Advisors LLC now owns 909 shares of the company’s stock worth $159,000 after buying an additional 4 shares during the period. Harwood Advisory Group LLC raised its position in shares of 3M Company by 0.3% in the third quarter. Harwood Advisory Group LLC now owns 1,455 shares of the company’s stock worth $256,000 after buying an additional 4 shares during the period. Landmark Financial Advisors LLC raised its position in shares of 3M Company by 0.3% in the second quarter. Landmark Financial Advisors LLC now owns 1,868 shares of the company’s stock worth $327,000 after buying an additional 5 shares during the period. Valley National Advisers Inc. raised its position in shares of 3M Company by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,391 shares of the company’s stock worth $419,000 after buying an additional 7 shares during the period. Finally, Gilman Hill Asset Management LLC raised its position in shares of 3M Company by 0.3% in the second quarter. Gilman Hill Asset Management LLC now owns 2,440 shares of the company’s stock worth $427,000 after buying an additional 8 shares during the period. 63.25% of the stock is owned by institutional investors and hedge funds.
Shares of 3M Company (NYSE:MMM) traded down 0.03% during mid-day trading on Friday, hitting $177.39. The stock had a trading volume of 1,265,593 shares. The firm has a 50 day moving average of $176.59 and a 200-day moving average of $175.65. The stock has a market cap of $106.69 billion, a P/E ratio of 22.37 and a beta of 1.05. 3M Company has a one year low of $134.64 and a one year high of $182.27.
3M Company (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.01. 3M Company had a return on equity of 42.27% and a net margin of 16.40%. The firm earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.72 billion. During the same period last year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts expect that 3M Company will post $8.16 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on MMM shares. Zacks Investment Research upgraded 3M Company from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. RBC Capital Markets upgraded 3M Company from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $155.00 to $171.00 in a research note on Wednesday, December 7th. Royal Bank Of Canada upgraded 3M Company from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $155.00 to $171.00 in a research note on Wednesday, December 7th. Jefferies Group restated a “buy” rating and set a $200.00 price target on shares of 3M Company in a research note on Wednesday, December 14th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of 3M Company in a research note on Thursday, December 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $174.50.
In related news, insider Julie L. Bushman sold 10,771 shares of the firm’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 sale, the insider now directly owns 34,093 shares of the company’s stock, valued at $5,683,644.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Eric D. Hammes sold 436 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $174.00, for a total value of $75,864.00. Following the sale, the vice president now directly owns 2,261 shares in the company, valued at $393,414. The disclosure for this sale can be found here. 0.58% of the stock is owned by 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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