Dubuque Bank & Trust Co. Has $7.22 Million Holdings in 3M Co (MMM)

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Dubuque Bank & Trust Co. cut its stake in 3M Co (NYSE:MMM) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,258 shares of the conglomerate’s stock after selling 399 shares during the period. 3M makes up about 1.1% of Dubuque Bank & Trust Co.’s portfolio, making the stock its 26th biggest holding. Dubuque Bank & Trust Co.’s holdings in 3M were worth $7,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Parnassus Investments CA acquired a new position in shares of 3M during the 2nd quarter worth $706,178,000. Fundsmith Equity Fund L.P. acquired a new position in shares of 3M during the 2nd quarter worth $668,488,000. Charles Schwab Investment Advisory Inc. acquired a new position in shares of 3M during the 2nd quarter worth $213,286,000. Cornerstone Wealth Management LLC raised its holdings in shares of 3M by 21,835.8% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 831,148 shares of the conglomerate’s stock worth $4,251,000 after buying an additional 827,359 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of 3M by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,727,135 shares of the conglomerate’s stock worth $1,323,362,000 after buying an additional 537,325 shares in the last quarter. 67.66% of the stock is owned by hedge funds and other institutional investors.

In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $203.01, for a total value of $1,301,294.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory R. Page purchased 1,000 shares of 3M stock in a transaction on Friday, October 26th. The stock was bought at an average price of $184.50 per share, for a total transaction of $184,500.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $276,750. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

A number of research firms have recently commented on MMM. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Argus reduced their price objective on 3M from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Barclays reduced their price objective on 3M from $201.00 to $195.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 24th. Citigroup reduced their price objective on 3M from $251.00 to $228.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Finally, Morgan Stanley set a $198.00 price objective on 3M and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $225.23.

Shares of MMM stock opened at $195.30 on Wednesday. The firm has a market cap of $112.27 billion, a P/E ratio of 21.30, a PEG ratio of 1.89 and a beta of 1.18. 3M Co has a twelve month low of $181.98 and a twelve month high of $259.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.36 and a current ratio of 1.97.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.12). The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.41 billion. 3M had a return on equity of 54.60% and a net margin of 13.79%. During the same quarter in the prior year, the firm earned $2.33 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts expect that 3M Co will post 10.02 EPS for the current fiscal year.

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About 3M

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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