Lyell Wealth Management LP Takes Position in 3M Co (MMM)

Lyell Wealth Management LP purchased a new position in shares of 3M Co (NYSE:MMM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 950 shares of the conglomerate’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MMM. SRS Capital Advisors Inc. raised its stake in shares of 3M by 1,652.8% in the second quarter. SRS Capital Advisors Inc. now owns 631 shares of the conglomerate’s stock valued at $124,000 after acquiring an additional 595 shares during the last quarter. Price Capital Management Inc. bought a new position in shares of 3M in the third quarter valued at approximately $126,000. Avestar Capital LLC raised its stake in shares of 3M by 161.2% in the second quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock valued at $130,000 after acquiring an additional 432 shares during the last quarter. Braun Bostich & Associates Inc. raised its stake in shares of 3M by 221.7% in the second quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 481 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of 3M in the second quarter valued at approximately $149,000. Hedge funds and other institutional investors own 67.66% of the company’s stock.

MMM stock opened at $201.29 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.97 and a quick ratio of 1.36. 3M Co has a fifty-two week low of $181.98 and a fifty-two week high of $259.77. The company has a market capitalization of $113.72 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.92 and a beta of 1.18.

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

In other 3M news, Director Gregory R. Page bought 1,000 shares of the stock in a transaction on Friday, October 26th. The stock was purchased at an average price of $184.50 per share, with a total value of $184,500.00. Following the acquisition, the director now owns 1,500 shares of the company’s stock, valued at $276,750. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric D. Hammes sold 1,272 shares of 3M stock in a transaction on Monday, September 10th. The stock was sold at an average price of $216.00, for a total transaction of $274,752.00. Following the sale, the insider now directly owns 5,634 shares of the company’s stock, valued at approximately $1,216,944. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

A number of research firms have recently issued reports on MMM. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Royal Bank of Canada cut their target price on shares of 3M to $223.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Argus cut their target price on shares of 3M from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Barclays cut their target price on shares of 3M from $210.00 to $201.00 and set an “underweight” rating for the company in a research note on Wednesday, July 25th. Finally, Deutsche Bank lifted their target price on shares of 3M from $210.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $225.23.

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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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