3M Co (NYSE:MMM) is Sage Capital Advisors llc’s Largest Position

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Sage Capital Advisors llc raised its position in shares of 3M Co (NYSE:MMM) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,743 shares of the conglomerate’s stock after acquiring an additional 239 shares during the quarter. 3M makes up approximately 8.4% of Sage Capital Advisors llc’s holdings, making the stock its largest position. Sage Capital Advisors llc’s holdings in 3M were worth $13,186,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MMM. First Foundation Advisors boosted its holdings in 3M by 54.2% in the second quarter. First Foundation Advisors now owns 3,814 shares of the conglomerate’s stock worth $661,000 after acquiring an additional 1,341 shares in the last quarter. Covington Capital Management boosted its position in 3M by 4.9% in the third quarter. Covington Capital Management now owns 63,504 shares of the conglomerate’s stock worth $10,440,000 after purchasing an additional 2,970 shares during the last quarter. Allen Capital Group LLC grew its stake in shares of 3M by 20.4% during the 3rd quarter. Allen Capital Group LLC now owns 7,368 shares of the conglomerate’s stock valued at $1,112,000 after purchasing an additional 1,248 shares during the period. Virtu Financial LLC grew its stake in shares of 3M by 257.9% during the 3rd quarter. Virtu Financial LLC now owns 33,454 shares of the conglomerate’s stock valued at $5,500,000 after purchasing an additional 24,106 shares during the period. Finally, Clean Yield Group grew its stake in shares of 3M by 11.6% during the 3rd quarter. Clean Yield Group now owns 21,386 shares of the conglomerate’s stock valued at $3,516,000 after purchasing an additional 2,230 shares during the period. Hedge funds and other institutional investors own 66.53% of the company’s stock.

In other 3M news, EVP Julie L. Bushman sold 6,879 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $165.09, for a total transaction of $1,135,654.11. Also, SVP Eric D. Hammes sold 1,341 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total value of $233,669.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,216 shares of company stock valued at $2,233,940. Insiders own 0.83% of the company’s stock.

3M stock traded up $0.43 during midday trading on Thursday, hitting $180.21. The stock had a trading volume of 732,596 shares, compared to its average volume of 2,378,795. The firm’s fifty day moving average is $174.13 and its two-hundred day moving average is $168.47. The company has a market capitalization of $104.30 billion, a PE ratio of 17.23, a P/E/G ratio of 1.99 and a beta of 1.10. 3M Co has a 52-week low of $150.58 and a 52-week high of $219.75. The company has a current ratio of 2.30, a quick ratio of 1.79 and a debt-to-equity ratio of 1.68.

3M (NYSE:MMM) last released its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.09. The company had revenue of $7.99 billion during the quarter, compared to analyst estimates of $8.20 billion. 3M had a net margin of 15.48% and a return on equity of 54.02%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.58 EPS. As a group, equities research analysts predict that 3M Co will post 9.04 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on MMM shares. Royal Bank of Canada lowered their price objective on shares of 3M from $165.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley reduced their target price on shares of 3M from $177.00 to $173.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Deutsche Bank increased their target price on shares of 3M from $160.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Barclays reduced their target price on shares of 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a report on Thursday, October 3rd. Finally, Wolfe Research raised shares of 3M from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. 3M has a consensus rating of “Hold” and an average price target of $174.08.

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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