Perkins Coie Trust Co maintained its position in 3M Co (NYSE:MMM) during the first quarter, Holdings Channel reports. The institutional investor owned 29,795 shares of the conglomerate’s stock at the end of the first quarter. 3M comprises 3.4% of Perkins Coie Trust Co’s portfolio, making the stock its 4th largest position. Perkins Coie Trust Co’s holdings in 3M were worth $5,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Putnam FL Investment Management Co. increased its stake in shares of 3M by 9.1% in the third quarter. Putnam FL Investment Management Co. now owns 6,150 shares of the conglomerate’s stock valued at $1,084,000 after buying an additional 513 shares in the last quarter. CWM LLC increased its stake in shares of 3M by 9.6% in the third quarter. CWM LLC now owns 1,688 shares of the conglomerate’s stock valued at $297,000 after buying an additional 148 shares in the last quarter. Ronald Blue & Co. LLC increased its stake in shares of 3M by 1.4% in the third quarter. Ronald Blue & Co. LLC now owns 11,753 shares of the conglomerate’s stock valued at $2,071,000 after buying an additional 161 shares in the last quarter. Hengehold Capital Management LLC increased its stake in shares of 3M by 30.7% in the third quarter. Hengehold Capital Management LLC now owns 4,393 shares of the conglomerate’s stock valued at $774,000 after buying an additional 1,032 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of 3M by 7.0% in the third quarter. Capital Investment Advisors LLC now owns 9,579 shares of the conglomerate’s stock valued at $1,688,000 after buying an additional 623 shares in the last quarter. Institutional investors own 65.80% of the company’s stock.

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

Shares of 3M Co (NYSE:MMM) opened at 191.16 on Friday. The stock has a market cap of $113.97 billion, a P/E ratio of 23.43 and a beta of 1.04. The company has a 50-day moving average of $190.57 and a 200 day moving average of $179.11. 3M Co has a 52-week low of $163.17 and a 52-week high of $193.50.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. 3M had a net margin of 16.77% and a return on equity of 43.82%. The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.35 billion. During the same period in the previous year, the business earned $1.80 earnings per share. The company’s revenue was up .4% on a year-over-year basis. Equities research analysts forecast that 3M Co will post $8.63 EPS for the current fiscal year.

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Several analysts have recently weighed in on MMM shares. Vetr downgraded shares of 3M from a “hold” rating to a “sell” rating and set a $171.00 price objective for the company. in a research report on Thursday, December 22nd. Royal Bank of Canada set a $176.00 price objective on shares of 3M and gave the stock a “hold” rating in a research report on Wednesday, January 4th. Stifel Nicolaus boosted their price objective on shares of 3M from $187.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 25th. Citigroup Inc reduced their price objective on shares of 3M from $206.00 to $204.00 and set a “buy” rating for the company in a research report on Wednesday, January 25th. Finally, Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $213.00 price objective for the company in a research report on Wednesday, March 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. 3M has a consensus rating of “Hold” and an average target price of $189.38.

In related news, insider Hak Cheol Shin sold 47,528 shares of 3M stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $176.85, for a total transaction of $8,405,326.80. Following the sale, the insider now directly owns 61,283 shares in the company, valued at $10,837,898.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Nicholas C. Gangestad sold 2,888 shares of 3M stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $181.31, for a total transaction of $523,623.28. Following the sale, the chief financial officer now owns 20,071 shares in the company, valued at $3,639,073.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,785 shares of company stock worth $11,866,885. Company insiders own 0.58% of the company’s stock.

3M Company Profile

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.

5 Day Chart for NYSE:MMM

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