3M Co (MMM) Shares Sold by First National Trust Co

First National Trust Co lessened its holdings in 3M Co (NYSE:MMM) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,962 shares of the conglomerate’s stock after selling 1,194 shares during the period. 3M accounts for 1.0% of First National Trust Co’s holdings, making the stock its 23rd biggest position. First National Trust Co’s holdings in 3M were worth $10,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MMM. Parnassus Investments CA bought a new stake in 3M in the 2nd quarter valued at $706,178,000. Fundsmith Equity Fund L.P. bought a new stake in 3M in the 2nd quarter valued at $668,488,000. Charles Schwab Investment Advisory Inc. bought a new stake in 3M in the 2nd quarter valued at $213,286,000. Cornerstone Wealth Management LLC raised its stake in 3M by 21,835.8% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 831,148 shares of the conglomerate’s stock valued at $4,251,000 after acquiring an additional 827,359 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in 3M by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,727,135 shares of the conglomerate’s stock valued at $1,323,362,000 after acquiring an additional 537,325 shares during the period. Institutional investors and hedge funds own 67.66% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. UBS Group increased their price target on 3M from $215.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Deutsche Bank increased their price target on 3M from $210.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, September 28th. Morgan Stanley assumed coverage on 3M in a research note on Monday, August 20th. They issued an “equal weight” rating and a $212.00 price target on the stock. Finally, Barclays dropped their price target on 3M from $210.00 to $201.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 25th. Two equities research 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. 3M currently has an average rating of “Hold” and an average target price of $225.23.

In other news, Director Gregory R. Page acquired 1,000 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $184.50 per share, with a total value of $184,500.00. Following the acquisition, the director now directly owns 1,500 shares in the company, valued at approximately $276,750. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric D. Hammes sold 1,272 shares of the stock in a transaction on Monday, September 10th. The stock was 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 in the company, valued at $1,216,944. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Shares of NYSE MMM opened at $201.10 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.36 and a debt-to-equity ratio of 1.31. 3M Co has a one year low of $181.98 and a one year high of $259.77. The firm has a market capitalization of $113.72 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.92 and a beta of 1.18.

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

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3M 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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