Chicago Capital LLC Acquires 200 Shares of 3M (NYSE:MMM)

Chicago Capital LLC lifted its holdings in shares of 3M (NYSE:MMM) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,088 shares of the conglomerate’s stock after purchasing an additional 200 shares during the period. Chicago Capital LLC’s holdings in 3M were worth $657,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its stake in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after purchasing an additional 20,421 shares during the period. Franklin Resources Inc. raised its holdings in 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after buying an additional 178,450 shares during the last quarter. Meyer Handelman Co. raised its holdings in 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after buying an additional 2,678 shares during the last quarter. Ballentine Partners LLC grew its holdings in 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after acquiring an additional 5,210 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its holdings in 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after acquiring an additional 13,473 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the sale, the executive vice president now owns 4,902 shares in the company, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last 90 days. 0.38% of the stock is owned by insiders.

3M Trading Down 1.4 %

Shares of MMM stock opened at $150.13 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $81.76 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. 3M has a 12-month low of $75.40 and a 12-month high of $155.00. The stock’s 50-day moving average price is $135.21 and its 200-day moving average price is $131.26.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the prior year, the firm earned $2.42 EPS. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. Equities research analysts predict that 3M will post 7.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho upped their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Bank of America boosted their price objective on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.