3M Co (NYSE:MMM) Shares Purchased by Bartlett & Co. LLC

Bartlett & Co. LLC boosted its stake in 3M Co (NYSE:MMM) by 360.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,745 shares of the conglomerate’s stock after buying an additional 55,376 shares during the period. Bartlett & Co. LLC’s holdings in 3M were worth $11,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. NTV Asset Management LLC increased its holdings in shares of 3M by 6.8% during the third quarter. NTV Asset Management LLC now owns 1,579 shares of the conglomerate’s stock valued at $260,000 after purchasing an additional 100 shares during the period. Tibra Equities Europe Ltd acquired a new position in shares of 3M during the third quarter valued at $1,907,000. KLCM Advisors Inc. increased its holdings in shares of 3M by 3.1% during the third quarter. KLCM Advisors Inc. now owns 2,145 shares of the conglomerate’s stock valued at $353,000 after purchasing an additional 64 shares during the period. Bernardo Wealth Planning LLC increased its holdings in shares of 3M by 4.2% during the third quarter. Bernardo Wealth Planning LLC now owns 2,442 shares of the conglomerate’s stock valued at $401,000 after purchasing an additional 99 shares during the period. Finally, D Orazio & Associates Inc. increased its holdings in shares of 3M by 22.3% during the third quarter. D Orazio & Associates Inc. now owns 598 shares of the conglomerate’s stock valued at $98,000 after purchasing an additional 109 shares during the period. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MMM opened at $174.00 on Thursday. The business’s 50-day moving average price is $163.57 and its 200 day moving average price is $169.61. The firm has a market cap of $97.81 billion, a P/E ratio of 16.63, a PEG ratio of 1.97 and a beta of 1.10. 3M Co has a 52-week low of $150.58 and a 52-week high of $219.75. The company has a quick ratio of 1.79, a current ratio of 2.30 and a debt-to-equity ratio of 1.68.

3M (NYSE:MMM) last released its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.09. The firm 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%. 3M’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 earnings per share. Sell-side analysts expect that 3M Co will post 9.09 EPS for the current year.

In related news, SVP Eric D. Hammes sold 1,341 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $174.25, for a total value of $233,669.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Khandpur K. Ashish sold 3,362 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $174.20, for a total value of $585,660.40. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

A number of brokerages have recently commented on MMM. Royal Bank of Canada lowered their price target on 3M from $165.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Barclays lowered their price target on 3M from $158.00 to $157.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Morgan Stanley lowered their price target on 3M from $173.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Credit Suisse Group raised their price target on 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Finally, Citigroup lowered their target price on 3M from $197.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $174.08.

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.

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

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