Puzo Michael J boosted its position in shares of 3M Co (NYSE:MMM) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 43,886 shares of the conglomerate’s stock after purchasing an additional 2,706 shares during the quarter. 3M comprises about 3.5% of Puzo Michael J’s holdings, making the stock its 6th biggest holding. Puzo Michael J’s holdings in 3M were worth $9,246,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rainier Group Investment Advisory LLC purchased a new stake in shares of 3M during the 1st quarter valued at about $114,000. SRS Capital Advisors Inc. boosted its holdings in shares of 3M by 1,652.8% during the 2nd quarter. SRS Capital Advisors Inc. now owns 631 shares of the conglomerate’s stock valued at $124,000 after acquiring an additional 595 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of 3M by 161.2% during the 2nd quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock valued at $130,000 after acquiring an additional 432 shares during the last quarter. Braun Bostich & Associates Inc. boosted its holdings in shares of 3M by 221.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 481 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of 3M during the 2nd quarter valued at about $149,000. 66.98% of the stock is currently owned by institutional investors.

In related news, insider Eric D. Hammes sold 1,272 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $216.00, for a total value of $274,752.00. Following the transaction, the insider now owns 5,634 shares of the company’s stock, valued at $1,216,944. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon T. Lindekugel sold 6,410 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $203.01, for a total transaction of $1,301,294.10. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

A number of brokerages have recently issued reports on MMM. Credit Suisse Group began coverage on shares of 3M in a report on Friday, October 12th. They set an “outperform” rating and a $228.00 price target on the stock. Gordon Haskett began coverage on shares of 3M in a report on Friday, October 12th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Deutsche Bank raised their price target on shares of 3M from $210.00 to $220.00 and gave the company a “hold” rating in a report on Friday, September 28th. Finally, UBS Group raised their price target on shares of 3M from $215.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $233.79.

MMM opened at $202.33 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $123.61 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15. 3M Co has a 12-month low of $190.57 and a 12-month high of $259.77.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.01. The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.36 billion. 3M had a net margin of 13.44% and a return on equity of 51.31%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. On average, equities research analysts predict that 3M Co will post 10.28 earnings per share for the current year.

3M Company Profile

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

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

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