3M Co (MMM) Shareholder Parsons Capital Management INC Decreased Stake

June 27, 2018 - By Alice Reed

3M Company (NYSE:MMM) Corporate LogoDuring 2018 Q1 the big money sentiment decreased to 0.77. That’s change of 0.06, from 2017Q4’s 0.83. 65 investors sold all, 643 reduced holdings as MMM ratio is negative. 434 grew positions while 113 funds took positions. Funds hold 377.88 million shares thus 1.35% less from 2017Q4’s 383.04 million shares. Garrison Corporation stated it has 2.47% in 3M Company (NYSE:MMM). Fdx Advsr reported 13,505 shs. Massachusetts-based Hite Hedge Asset Ltd Liability Corporation has invested 0.06% in 3M Company (NYSE:MMM). Silvercrest Asset Mngmt Gp Ltd Liability Co reported 79,303 shs stake. Fiduciary Ser Of The Southwest Inc Tx owns 6,614 shs. Texas Permanent School Fund stated it has 153,865 shs or 0.45% of all its holdings. Tiemann Investment Advisors Lc has 0.81% invested in 3M Company (NYSE:MMM) for 4,585 shs. Dorsey And Whitney Trust Lc invested in 53,079 shs. Moreover, King Luther Capital Mgmt has 0.17% invested in 3M Company (NYSE:MMM). Hbk Sorce Advisory Limited Co holds 0.27% or 9,819 shs. Calamos Wealth Mgmt Ltd has invested 0.05% in 3M Company (NYSE:MMM). Westwood Mgmt Il holds 0.03% or 1,000 shs in its capital. Rdl Inc invested in 1.05% or 7,234 shs. Buckingham Mngmt has 0.26% invested in 3M Company (NYSE:MMM). Btr Cap Mngmt reported 0.17% in 3M Company (NYSE:MMM).

MMM registered $30.99 million net activity with 0 insider purchases and 16 sales since January 31, 2018. On Friday, February 23 Little Frank R Jr. had sold 3,133 shs worth $742,051. Shin Hak Cheol had sold 8,014 shs worth $2.00M. $3.33 million worth of 3M Company (NYSE:MMM) was sold by Keel Paul A. Gangestad Nicholas C had sold 1,681 shs worth $419,846. Bauman James L sold $700,790 worth of stock or 2,826 shs. Another trade for 225 shs valued at $56,178 was made by Vrohidis Ippocratis on Thursday, February 1.

The stake In 3M Co (MMM) was reduced held by Parsons Capital Management Inc. According to 2018Q1 Securities and Exchange filling the reduction is 12.45%. The company’s stock sank 18.48% while Parsons Capital Management Inc sold 40,289 shares. The medical and dental instruments company reported $62.19 million value for the 2018Q1. Now the institutional investor is holding 283,286 shares, compared to the 323,575 from the previous quarter. $118.44B is 3M Co’s MC. The stock increased 1.48% or $2.91 during the last trading session, reaching $199.49.3M Company has volume of 460,971 shares. Since June 27, 2017 MMM has declined 0.26% and is downtrending. MMM underperformed by 12.83% the S&P500.

For a total of shares it increased its holding in by shares in the quarter, and has risen its stake in .

On July, 24 3M Company (NYSE:MMM)’s earnings release is awaited by WallStreet, as reported by RTT. Last year’s EPS was $2.58, while now analysts expect change of 1.94 % up from current $2.63 EPS. If $2.63 is reported, MMM’s profit will be $1.56 billion for 18.96 P/E. After $2.50 EPS report last quarter, Wall Street now predicts 5.20 % EPS growth of 3M Company.

A couple more 3M Company (NYSE:MMM) news were released by: Seekingalpha.com which released on May 30, 2018 “3M: Buy The Dip”, also Seekingalpha.com on June 09, 2018 released “3M Company: Time To Break Up This Giant?”, the next Seekingalpha.com is “3M Company: It Didn’t Take A Crystal Ball To See That It Was Overvalued – Part 3” on May 31, 2018. Fool.com has article titled “The 1 Reason to Avoid 3M Company’s Stock”.

3M Company (NYSE:MMM) Ratings Coverage

In total 12 analysts cover 3M Company (NYSE:MMM). “Buy” rating has 6, “Sell” are 3, while 3 are “Hold”. 50% are bullish. With $28400 highest and $210 lowest target 3M Company has $233 average target or 16.80% above the current ($199.49) price. 24 are the (NYSE:MMM)’s analyst reports since January 3, 2018 according to StockzIntelligence Inc. In Thursday, January 18 report J.P. Morgan maintained it with “Sell” rating and $221.0 target. On Thursday, January 25 the firm earned “Hold” rating by RBC Capital Markets. On Wednesday, April 25 the rating was maintained by Barclays Capital with “Underweight”. On Tuesday, April 24 the rating was maintained by RBC Capital Markets with “Hold”. On Thursday, February 15 the firm earned “Hold” rating by Stifel Nicolaus. On Wednesday, January 24 Hilliard Lyons upgraded the shares of MMM in report to “Buy” rating. The stock rating was maintained by JP Morgan with “Underweight” on Thursday, April 26. In Thursday, April 26 report UBS maintained the stock with “Neutral” rating. On Wednesday, January 3 the firm earned “Hold” rating by RBC Capital Markets. On Thursday, March 22 the firm earned “Hold” rating by RBC Capital Markets.

3M Company (NYSE:MMM) Institutional Investors Chart

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