Edmond DE Rothschild Holding S.A. cut its position in shares of 3M Company (NYSE:MMM) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,788 shares of the conglomerate’s stock after selling 1,223 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in 3M were worth $2,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cable Hill Partners LLC raised its position in 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock worth $122,000 after buying an additional 15 shares during the period. Reilly Financial Advisors LLC raised its position in 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock worth $123,000 after buying an additional 24 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after buying an additional 4 shares during the period. American Research & Management Co. raised its position in 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock worth $179,000 after buying an additional 70 shares during the period. Finally, American National Bank raised its position in 3M by 23.2% in the first quarter. American National Bank now owns 965 shares of the conglomerate’s stock worth $185,000 after buying an additional 182 shares during the period. 65.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of 3M Company (NYSE:MMM) traded down 0.39% during mid-day trading on Thursday, hitting $205.67. 215,053 shares of the stock traded hands. The company’s 50-day moving average price is $208.31 and its 200 day moving average price is $196.16. The company has a market capitalization of $122.74 billion, a PE ratio of 23.46 and a beta of 1.08. 3M Company has a 1-year low of $163.85 and a 1-year high of $214.57.

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

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A number of research analysts have weighed in on the stock. Barclays PLC reaffirmed an “overweight” rating and issued a $201.00 price objective (up from $200.00) on shares of 3M in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $223.00 price objective on the stock in a research note on Friday, May 26th. BidaskClub lowered shares of 3M from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $234.00 price objective on shares of 3M in a research note on Thursday, June 1st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $225.00 price objective (up from $208.00) on shares of 3M in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. 3M presently has a consensus rating of “Hold” and a consensus target price of $203.40.

In other news, VP Marlene Mary Mcgrath sold 14,766 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the completion of the transaction, the vice president now directly owns 24,480 shares in the company, valued at approximately $4,770,662.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

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.

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

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