Taylor Cottrill Erickson & Associates Inc. boosted its stake in shares of 3M Co (NYSE:MMM) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,666 shares of the conglomerate’s stock after purchasing an additional 1,340 shares during the quarter. 3M makes up approximately 1.2% of Taylor Cottrill Erickson & Associates Inc.’s holdings, making the stock its 24th largest position. Taylor Cottrill Erickson & Associates Inc.’s holdings in 3M were worth $6,040,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. raised its stake in 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 in the last quarter. Avestar Capital LLC raised its stake in 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 in the last quarter. Braun Bostich & Associates Inc. raised its stake in 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 in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in 3M during the 2nd quarter valued at $149,000. Finally, Reilly Financial Advisors LLC raised its stake in 3M by 97.8% during the 3rd quarter. Reilly Financial Advisors LLC now owns 825 shares of the conglomerate’s stock valued at $174,000 after acquiring an additional 408 shares in the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.
In related news, Director Gregory R. Page bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $184.50 per share, for a total transaction of $184,500.00. Following the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $276,750. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jon T. Lindekugel sold 6,410 shares of 3M stock in a transaction on Friday, August 10th. The stock was sold at an average price of $203.01, for a total value of $1,301,294.10. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
3M (NYSE:MMM) last issued its earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.12). The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.41 billion. 3M had a return on equity of 54.60% and a net margin of 13.79%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. On average, research analysts forecast that 3M Co will post 10.03 EPS for the current year.
Several analysts have weighed in on MMM shares. MED downgraded 3M from a “buy” rating to a “hold” rating and set a $208.00 target price on the stock. in a research note on Thursday, July 12th. Deutsche Bank reissued a “hold” rating and issued a $208.00 price objective on shares of 3M in a research note on Thursday, July 12th. ValuEngine raised 3M from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $234.00 price objective on shares of 3M in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. 3M has an average rating of “Hold” and an average price target of $225.23.
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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