Seaward Management Limited Partnership decreased its position in shares of 3M Co. (NYSE:MMM) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 105,784 shares of the company’s stock after selling 980 shares during the period. Seaward Management Limited Partnership’s holdings in 3M were worth $18,524,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. CenturyLink Investment Management Co bought a new position in shares of 3M during the second quarter worth $116,000. Parasol Investment Management LLC raised its position in shares of 3M by 12.6% in the second quarter. Parasol Investment Management LLC now owns 896 shares of the company’s stock worth $157,000 after buying an additional 100 shares in the last quarter. Clarius Group LLC bought a new position in shares of 3M during the first quarter worth $202,000. Independence Advisors LLC bought a new position in shares of 3M during the second quarter worth $203,000. Finally, 10 15 Associates Inc. bought a new position in shares of 3M during the first quarter worth $204,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.
3M Co. (NYSE:MMM) traded up 0.18% during mid-day trading on Friday, hitting $170.33. 1,512,376 shares of the stock traded hands. The stock’s 50 day moving average is $176.09 and its 200-day moving average is $173.28. 3M Co. has a 12 month low of $134.64 and a 12 month high of $182.27. The company has a market cap of $102.95 billion, a price-to-earnings ratio of 21.74 and a beta of 0.99.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. 3M had a net margin of 16.29% and a return on equity of 41.84%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.73 billion. During the same period in the previous year, the business posted $2.02 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that 3M Co. will post $8.21 EPS for the current year.
A number of research analysts recently weighed in on MMM shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Jefferies Group reaffirmed a “buy” rating on shares of 3M in a research note on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of 3M in a research note on Sunday, July 10th. Morgan Stanley reaffirmed a “sell” rating and issued a $168.00 price target on shares of 3M in a research note on Tuesday, August 23rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $164.00 price target on shares of 3M in a research note on Thursday, August 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. 3M presently has an average rating of “Hold” and a consensus price target of $167.11.
In other news, VP Khandpur K. Ashish sold 1,679 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $178.39, for a total transaction of $299,516.81. Following the transaction, the vice president now directly owns 1,011 shares in the company, valued at $180,352.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul A. Keel sold 3,180 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $178.39, for a total transaction of $567,280.20. Following the transaction, the insider now owns 9,961 shares in the company, valued at $1,776,942.79. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.