Hengehold Capital Management LLC increased its stake in 3M Co (NYSE:MMM) by 5.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,581 shares of the conglomerate’s stock after buying an additional 79 shares during the period. Hengehold Capital Management LLC’s holdings in 3M were worth $279,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of 3M by 1.2% during the 2nd quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock worth $6,783,640,000 after purchasing an additional 472,084 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 3M by 1.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,025,635 shares of the conglomerate’s stock valued at $1,812,615,000 after purchasing an additional 207,380 shares during the period. Parametric Portfolio Associates LLC increased its position in 3M by 7.2% in the third quarter. Parametric Portfolio Associates LLC now owns 1,923,101 shares of the conglomerate’s stock worth $316,158,000 after buying an additional 129,781 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 3M by 1.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,356,678 shares of the conglomerate’s stock worth $235,167,000 after buying an additional 14,528 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of 3M by 27.4% in the third quarter. California Public Employees Retirement System now owns 1,313,035 shares of the conglomerate’s stock valued at $215,863,000 after buying an additional 282,135 shares during the period. 66.49% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on the company. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating and set a $179.00 price target on the stock in a research report on Tuesday, December 10th. UBS Group lowered 3M from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $180.00 to $160.00 in a report on Thursday, December 12th. Deutsche Bank boosted their price objective on 3M from $160.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Citigroup downgraded shares of 3M from a “buy” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Monday, December 9th. Finally, Royal Bank of Canada cut their target price on shares of 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $174.08.

Shares of 3M stock traded down $0.15 during trading hours on Friday, reaching $177.59. The company had a trading volume of 1,865,229 shares, compared to its average volume of 2,150,470. The firm has a market cap of $102.38 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10. 3M Co has a one year low of $150.58 and a one year high of $219.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The business has a fifty day simple moving average of $175.92 and a 200 day simple moving average of $168.73.

3M (NYSE:MMM) last released its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.09. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $8.20 billion. 3M had a return on equity of 54.02% and a net margin of 15.48%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. On average, research analysts forecast that 3M Co will post 9.04 EPS for the current year.

In related news, EVP Julie L. Bushman sold 6,879 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $165.09, for a total transaction of $1,135,654.11. Also, SVP Ty R. Silberhorn sold 1,634 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $170.72, for a total transaction of $278,956.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,216 shares of company stock valued at $2,233,940. 0.83% of the stock is owned by corporate insiders.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Featured Article: Accumulation/Distribution

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.