NEXT Financial Group Inc Lowers Stake in 3M Co (NYSE:MMM)

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NEXT Financial Group Inc lowered its stake in shares of 3M Co (NYSE:MMM) by 20.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,921 shares of the conglomerate’s stock after selling 1,006 shares during the period. NEXT Financial Group Inc’s holdings in 3M were worth $692,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Private Vista LLC lifted its position in shares of 3M by 5.1% during the 3rd quarter. Private Vista LLC now owns 1,227 shares of the conglomerate’s stock worth $202,000 after purchasing an additional 60 shares during the last quarter. Boston Advisors LLC lifted its position in shares of 3M by 0.7% during the 3rd quarter. Boston Advisors LLC now owns 9,250 shares of the conglomerate’s stock worth $1,521,000 after purchasing an additional 60 shares during the last quarter. West Coast Financial LLC lifted its position in shares of 3M by 0.3% during the 3rd quarter. West Coast Financial LLC now owns 19,416 shares of the conglomerate’s stock worth $3,192,000 after purchasing an additional 64 shares during the last quarter. KLCM Advisors Inc. lifted its position in shares of 3M by 3.1% during the 3rd quarter. KLCM Advisors Inc. now owns 2,145 shares of the conglomerate’s stock worth $353,000 after purchasing an additional 64 shares during the last quarter. Finally, Amarillo National Bank lifted its position in shares of 3M by 4.1% during the 3rd quarter. Amarillo National Bank now owns 1,656 shares of the conglomerate’s stock worth $272,000 after purchasing an additional 65 shares during the last quarter. 66.49% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:MMM opened at $177.74 on Friday. The company’s fifty day moving average price is $175.92 and its 200 day moving average price is $168.73. 3M Co has a 12 month low of $150.58 and a 12 month high of $219.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The firm has a market capitalization of $102.38 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.95 and a beta of 1.10.

3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, October 24th. The conglomerate reported $2.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.09. 3M had a net margin of 15.48% and a return on equity of 54.02%. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period last year, the business earned $2.58 EPS. 3M’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that 3M Co will post 9.04 EPS for the current year.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank lifted their price objective on shares of 3M from $160.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Citigroup cut shares of 3M from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Monday, December 9th. Royal Bank of Canada decreased their price objective on shares of 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Barclays decreased their price objective on shares of 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised shares of 3M from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $143.00 to $150.00 in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $174.08.

In related news, SVP Eric D. Hammes sold 1,341 shares of 3M stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total transaction of $233,669.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Julie L. Bushman sold 6,879 shares of 3M stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $165.09, for a total transaction of $1,135,654.11. Insiders have sold a total of 13,216 shares of company stock worth $2,233,940 over the last quarter. 0.83% of the stock is owned by company insiders.

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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