Community Bank N.A. Increases Position in 3M Co (NYSE:MMM)

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Community Bank N.A. grew its stake in shares of 3M Co (NYSE:MMM) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,236 shares of the conglomerate’s stock after purchasing an additional 1,730 shares during the quarter. Community Bank N.A.’s holdings in 3M were worth $5,029,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MMM. Advisor Group Holdings Inc. bought a new position in shares of 3M during the first quarter valued at approximately $36,671,000. Flossbach Von Storch AG boosted its position in shares of 3M by 33.4% during the first quarter. Flossbach Von Storch AG now owns 7,767,020 shares of the conglomerate’s stock worth $1,060,276,000 after buying an additional 1,944,377 shares during the period. Morgan Stanley boosted its position in shares of 3M by 28.0% during the first quarter. Morgan Stanley now owns 3,550,257 shares of the conglomerate’s stock worth $484,645,000 after buying an additional 777,513 shares during the period. First Trust Advisors LP boosted its position in shares of 3M by 170.7% during the second quarter. First Trust Advisors LP now owns 996,595 shares of the conglomerate’s stock worth $155,459,000 after buying an additional 628,421 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of 3M by 875.7% during the first quarter. Mackenzie Financial Corp now owns 615,710 shares of the conglomerate’s stock worth $84,051,000 after buying an additional 552,603 shares during the period. 65.67% of the stock is owned by institutional investors.

Shares of NYSE:MMM traded down $1.65 on Friday, reaching $150.47. 3,266,644 shares of the company traded hands, compared to its average volume of 2,588,002. 3M Co has a fifty-two week low of $114.04 and a fifty-two week high of $182.54. The company’s 50 day moving average is $156.57 and its 200-day moving average is $153.55. The stock has a market capitalization of $87.62 billion, a PE ratio of 17.06, a P/E/G ratio of 1.96 and a beta of 0.99. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.94 and a quick ratio of 1.19.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, July 28th. The conglomerate reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. 3M had a return on equity of 46.86% and a net margin of 16.38%. The company had revenue of $7.18 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. As a group, analysts expect that 3M Co will post 8.15 EPS for the current year.

In other 3M news, EVP Michael G. Vale sold 14,062 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $148.34, for a total transaction of $2,085,957.08. Following the sale, the executive vice president now directly owns 46,900 shares of the company’s stock, valued at approximately $6,957,146. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Khandpur K. Ashish sold 3,605 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $146.85, for a total transaction of $529,394.25. Following the sale, the executive vice president now directly owns 19,193 shares in the company, valued at $2,818,492.05. The disclosure for this sale can be found here. Insiders have sold a total of 32,290 shares of company stock valued at $4,757,036 in the last quarter. Insiders own 0.42% of the company’s stock.

MMM has been the subject of several analyst reports. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating and set a $133.00 price objective for the company in a research report on Thursday, April 30th. Barclays boosted their price objective on 3M from $156.00 to $157.00 and gave the stock an “underweight” rating in a research report on Wednesday. Morgan Stanley boosted their price objective on 3M from $160.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup upped their target price on 3M from $146.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Langenberg & Company upgraded 3M to a “buy” rating and set a $180.00 target price for the company in a research report on Thursday, April 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $164.15.

3M Profile

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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