McGuire Investment Group LLC Purchases 84 Shares of 3M (NYSE:MMM)


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McGuire Investment Group LLC grew its holdings in shares of 3M (NYSE:MMM) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,825 shares of the conglomerate’s stock after buying an additional 84 shares during the period. McGuire Investment Group LLC’s holdings in 3M were worth $1,543,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. First Hawaiian Bank lifted its position in 3M by 3.4% during the 4th quarter. First Hawaiian Bank now owns 9,951 shares of the conglomerate’s stock valued at $1,740,000 after acquiring an additional 331 shares during the period. Sunbelt Securities Inc. grew its stake in shares of 3M by 118.5% in the 3rd quarter. Sunbelt Securities Inc. now owns 16,333 shares of the conglomerate’s stock worth $2,585,000 after buying an additional 8,859 shares during the last quarter. LSV Asset Management grew its stake in shares of 3M by 3,127.1% in the 3rd quarter. LSV Asset Management now owns 225,900 shares of the conglomerate’s stock worth $36,184,000 after buying an additional 218,900 shares during the last quarter. Citizens Financial Group Inc RI increased its position in 3M by 8.5% during the 3rd quarter. Citizens Financial Group Inc RI now owns 17,488 shares of the conglomerate’s stock valued at $2,802,000 after buying an additional 1,370 shares in the last quarter. Finally, First National Trust Co raised its stake in 3M by 3.3% during the third quarter. First National Trust Co now owns 45,604 shares of the conglomerate’s stock valued at $7,305,000 after buying an additional 1,452 shares during the last quarter. 61.08% of the stock is currently owned by hedge funds and other institutional investors.

In other 3M news, EVP Khandpur K. Ashish sold 5,760 shares of the company’s stock in a transaction dated Thursday, December 17th. The stock was sold at an average price of $176.44, for a total value of $1,016,294.40. Following the completion of the sale, the executive vice president now owns 21,719 shares in the company, valued at $3,832,100.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Ivan K. Fong sold 15,073 shares of the firm’s stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $172.62, for a total value of $2,601,901.26. Following the completion of the transaction, the senior vice president now directly owns 47,886 shares in the company, valued at approximately $8,266,081.32. The disclosure for this sale can be found here. In the last three months, insiders sold 27,052 shares of company stock worth $4,688,423. 0.42% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on MMM. Morgan Stanley raised their price target on 3M from $176.00 to $188.00 and gave the company an “equal weight” rating in a report on Tuesday. William Blair restated a “market perform” rating on shares of 3M in a research note on Tuesday, October 27th. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating and set a $182.00 target price on the stock. in a research note on Tuesday, December 15th. BidaskClub downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, December 28th. Finally, TheStreet upgraded shares of 3M from a “c+” rating to a “b” rating in a report on Tuesday, October 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $173.00.

Shares of MMM stock traded down $0.23 on Wednesday, reaching $166.28. The stock had a trading volume of 2,007,666 shares, compared to its average volume of 3,375,396. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.37 and a current ratio of 1.90. 3M has a 1 year low of $114.04 and a 1 year high of $182.54. The stock has a market cap of $95.91 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93. The company has a 50 day simple moving average of $173.42 and a 200 day simple moving average of $165.40.

3M (NYSE:MMM) last posted its earnings results on Sunday, November 1st. The conglomerate reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.17. The company had revenue of $8.35 billion for the quarter, compared to the consensus estimate of $8.38 billion. 3M had a return on equity of 44.77% and a net margin of 15.65%. 3M’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. On average, equities research analysts anticipate that 3M will post 8.61 earnings per share for the current fiscal year.

3M Company Profile

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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