EagleClaw Capital Managment LLC Reduces Position in 3M Co (NYSE:MMM)

EagleClaw Capital Managment LLC decreased its holdings in shares of 3M Co (NYSE:MMM) by 30.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,479 shares of the conglomerate’s stock after selling 1,100 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in 3M were worth $430,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of 3M during the 4th quarter valued at about $918,305,000. Ronna Sue Cohen boosted its position in shares of 3M by 20,703.2% during the 1st quarter. Ronna Sue Cohen now owns 2,685,486 shares of the conglomerate’s stock valued at $2,685,000 after acquiring an additional 2,672,577 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of 3M by 17,524.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,680,806 shares of the conglomerate’s stock valued at $168,081,000 after acquiring an additional 1,671,269 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of 3M by 2,768.8% during the 4th quarter. Bessemer Group Inc. now owns 578,657 shares of the conglomerate’s stock valued at $110,258,000 after acquiring an additional 558,486 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of 3M by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 7,416,248 shares of the conglomerate’s stock valued at $1,410,584,000 after acquiring an additional 353,754 shares during the last quarter. 66.84% of the stock is owned by institutional investors and hedge funds.

NYSE:MMM traded down $0.71 on Wednesday, reaching $176.92. 194,256 shares of the company’s stock were exchanged, compared to its average volume of 2,747,370. The company has a quick ratio of 1.34, a current ratio of 1.93 and a debt-to-equity ratio of 1.47. The stock has a market cap of $100.29 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. The business has a fifty day simple moving average of $172.41. 3M Co has a 52-week low of $159.32 and a 52-week high of $219.75.

3M (NYSE:MMM) last issued its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. 3M had a net margin of 15.27% and a return on equity of 55.05%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.59 earnings per share. As a group, research analysts anticipate that 3M Co will post 9.35 EPS for the current year.

In related news, insider Joaquin Delgado sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $169.68, for a total transaction of $916,272.00. Following the sale, the insider now directly owns 28,092 shares in the company, valued at $4,766,650.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Dillon bought 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $169.50 per share, for a total transaction of $203,400.00. Following the completion of the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $203,400. The disclosure for this purchase can be found here. Insiders have acquired 3,200 shares of company stock worth $559,260 over the last quarter. Insiders own 0.83% of the company’s stock.

Several research analysts have recently weighed in on MMM shares. Barclays reissued a “hold” rating and set a $23.00 price target on shares of Cypress Semiconductor in a research report on Thursday, June 6th. Deutsche Bank upped their target price on shares of Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Bank of America set a $420.00 target price on shares of Boeing and gave the company a “hold” rating in a research report on Thursday, June 27th. Credit Suisse Group set a €59.00 ($68.60) target price on shares of Renault and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Morgan Stanley decreased their target price on shares of Tesla to $230.00 and set an “equal weight” rating on the stock in a research report on Monday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and an average price target of $182.77.

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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