Claybrook Capital LLC Raises Stake in 3M Co (MMM)

Claybrook Capital LLC grew its holdings in 3M Co (NYSE:MMM) by 762.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,449 shares of the conglomerate’s stock after purchasing an additional 3,049 shares during the period. Claybrook Capital LLC’s holdings in 3M were worth $657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Penserra Capital Management LLC acquired a new position in 3M during the fourth quarter valued at approximately $35,000. Intercontinental Wealth Advisors LLC acquired a new position in 3M during the fourth quarter valued at approximately $38,000. Essex Investment Management Co. LLC acquired a new position in 3M during the fourth quarter valued at approximately $39,000. Westside Investment Management Inc. grew its holdings in 3M by 96.2% during the fourth quarter. Westside Investment Management Inc. now owns 255 shares of the conglomerate’s stock valued at $49,000 after purchasing an additional 125 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in 3M during the fourth quarter valued at approximately $72,000. Institutional investors own 67.20% of the company’s stock.

MMM has been the topic of several analyst reports. Zacks Investment Research reiterated a “hold” rating on shares of 3M in a report on Monday, December 31st. Royal Bank of Canada reiterated a “buy” rating and set a $213.00 price target on shares of 3M in a report on Wednesday, December 19th. Morgan Stanley lowered their price target on 3M from $201.00 to $199.00 and set an “equal weight” rating on the stock in a report on Friday, March 22nd. Barclays lowered their price target on 3M from $189.00 to $188.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Finally, reiterated a “sell” rating on shares of 3M in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $205.50.

In related news, CFO Nicholas C. Gangestad sold 4,681 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $201.34, for a total value of $942,472.54. Following the completion of the transaction, the chief financial officer now directly owns 33,691 shares of the company’s stock, valued at $6,783,345.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James L. Bauman sold 16,065 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $200.24, for a total value of $3,216,855.60. Following the completion of the transaction, the insider now directly owns 40,468 shares of the company’s stock, valued at $8,103,312.32. The disclosure for this sale can be found here. Insiders sold 77,414 shares of company stock valued at $15,553,682 over the last three months. 0.83% of the stock is owned by company insiders.

MMM opened at $216.90 on Wednesday. 3M Co has a 1-year low of $176.87 and a 1-year high of $221.69. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29. The company has a market capitalization of $124.43 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.03. 3M had a return on equity of 57.70% and a net margin of 16.33%. The company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same period in the prior year, the business earned $2.10 earnings per share. 3M’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that 3M Co will post 10.51 EPS for the current year.

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About 3M

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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