3M Co (NYSE:MMM) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp reduced its stake in shares of 3M Co (NYSE:MMM) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,815 shares of the conglomerate’s stock after selling 203 shares during the period. Tompkins Financial Corp’s holdings in 3M were worth $627,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kempen Capital Management N.V. acquired a new stake in shares of 3M during the second quarter worth $25,000. Atwater Malick LLC acquired a new stake in shares of 3M during the third quarter worth $30,000. Weaver Consulting Group acquired a new stake in shares of 3M during the first quarter worth $32,000. Arcus Capital Partners LLC acquired a new stake in shares of 3M during the second quarter worth $35,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of 3M during the second quarter worth $37,000. Institutional investors and hedge funds own 66.78% of the company’s stock.

In other 3M news, insider John Patrick Banovetz sold 1,040 shares of 3M stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $170.40, for a total value of $177,216.00. Following the completion of the transaction, the insider now owns 5,974 shares of the company’s stock, valued at $1,017,969.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.

NYSE MMM traded down $0.22 on Friday, reaching $163.32. 1,409,038 shares of the company’s stock traded hands, compared to its average volume of 2,942,137. The firm has a market cap of $93.76 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.87 and a beta of 1.11. The stock has a 50 day moving average price of $162.27 and a 200-day moving average price of $174.27. 3M Co has a fifty-two week low of $150.58 and a fifty-two week high of $219.75. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.34 and a current ratio of 1.93.

3M (NYSE:MMM) last released its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. 3M had a net margin of 15.27% and a return on equity of 55.05%. The company had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the previous year, the company earned $2.59 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that 3M Co will post 9.18 EPS for the current fiscal year.

A number of research analysts recently issued reports on the stock. Bank of America decreased their target price on shares of 3M from $193.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of 3M from $140.00 to $143.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Citigroup decreased their target price on shares of 3M from $197.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. Zacks Investment Research downgraded shares of 3M from a “hold” rating to a “sell” rating and set a $166.00 target price for the company. in a research report on Monday. Finally, Royal Bank of Canada set a $179.00 target price on shares of 3M and gave the company a “hold” rating in a research report on Friday, July 26th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. 3M has a consensus rating of “Hold” and a consensus price target of $179.54.

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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