Camarda Financial Advisors LLC Buys Shares of 800 3M Co (MMM)

Camarda Financial Advisors LLC bought a new stake in shares of 3M Co (NYSE:MMM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 800 shares of the conglomerate’s stock, valued at approximately $169,000.

A number of other large investors have also bought and sold shares of the business. Manitou Investment Management Ltd. increased its holdings in 3M by 10.4% during the 3rd quarter. Manitou Investment Management Ltd. now owns 41,230 shares of the conglomerate’s stock valued at $8,688,000 after acquiring an additional 3,880 shares in the last quarter. Strategic Financial Group LLC increased its holdings in 3M by 29.9% during the 3rd quarter. Strategic Financial Group LLC now owns 2,742 shares of the conglomerate’s stock valued at $578,000 after acquiring an additional 631 shares in the last quarter. Private Capital Group LLC increased its holdings in 3M by 54.0% during the 3rd quarter. Private Capital Group LLC now owns 2,228 shares of the conglomerate’s stock valued at $469,000 after acquiring an additional 781 shares in the last quarter. Glynn Capital Management LLC acquired a new stake in shares of 3M during the 3rd quarter worth about $843,000. Finally, Financial Advantage Inc. boosted its stake in shares of 3M by 1.5% during the 3rd quarter. Financial Advantage Inc. now owns 22,617 shares of the conglomerate’s stock worth $4,766,000 after purchasing an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 67.66% of the company’s stock.

MMM opened at $201.10 on Friday. 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 Co has a 1 year low of $181.98 and a 1 year high of $259.77. The company has a market capitalization of $113.72 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.92 and a beta of 1.18.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $8.41 billion. During the same period in the prior year, the business posted $2.33 earnings per share. 3M’s revenue was down .2% on a year-over-year basis. As a group, equities research analysts anticipate that 3M Co will post 10.02 EPS for the current year.

In related news, insider Eric D. Hammes sold 1,272 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $216.00, for a total value of $274,752.00. Following the sale, the insider now directly owns 5,634 shares of the company’s stock, valued at $1,216,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $184.50 per share, for a total transaction of $184,500.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $276,750. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by company insiders.

Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. Argus decreased their price target on shares of 3M from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Barclays decreased their price target on shares of 3M from $201.00 to $195.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 24th. Citigroup decreased their price target on shares of 3M from $251.00 to $228.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Finally, Morgan Stanley set a $198.00 price target on shares of 3M and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned 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.

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3M Company Profile

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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