Bryn Mawr Trust Company decreased its stake in 3M Co (MMM) by 24.47% based on its latest 2016Q3 regulatory filing with the SEC. Bryn Mawr Trust Company sold 37,826 shares as the company’s stock rose 0.39% with the market. The institutional investor held 116,747 shares of the medical and dental instruments company at the end of 2016Q3, valued at $20.58 million, down from 154,573 at the end of the previous reported quarter. Bryn Mawr Trust Company who had been investing in 3M Co for a number of months, seems to be less bullish one the $106.54 billion market cap company. The stock is up 0.70% or $1.24 hitting $177.82, despite the negative news. About 292,758 shares traded hands. 3M Co (NYSE:MMM) has risen 3.32% since June 7, 2016 and is uptrending. It has underperformed by 4.10% the S&P500.
Insitutional Activity: The institutional sentiment is 0.78 in Q3 2016. Its the same as in 2016Q2. The ratio is flat, as 42 funds sold all MMM shares owned while 643 reduced positions. only 112 funds bought stakes while 419 increased positions. They now own 374.26 million shares or 3.25% less from 386.81 million shares in 2016Q2. Pub Employees Retirement Association Of Colorado holds 121,154 shares or 0.17% of its portfolio. Independent Port Consultants, a Florida-based fund reported 120 shares. The Texas-based Avalon Advisors Limited has invested 0.66% in 3M Co (NYSE:MMM). Oakbrook Lc, a Illinois-based fund reported 7,451 shares. Seven Eight Lc reported 8,700 shares or 0.45% of all its holdings. Meag Munich Ergo Kapitalanlagegesellschaft Mbh accumulated 0.01% or 1,500 shares. Sigma Planning Corp has 11,253 shares for 0.24% of their US portfolio. Clark Cap Mgmt Gru Inc last reported 0.06% of its portfolio in the stock. Alpine Woods Capital Investors Ltd Liability Corporation reported 3,000 shares or 0.03% of all its holdings. The Alabama-based Kinsight Limited Liability Company has invested 0.18% in 3M Co (NYSE:MMM). Confluence Wealth Mngmt Lc last reported 1,791 shares in the company. Millennium Ltd last reported 216,106 shares in the company. State Street owns 33.02M shares or 0.75% of their US portfolio. Moreover, Whitnell & has 0.45% invested in 3M Co (NYSE:MMM) for 7,472 shares. Moreover, Financial Architects Inc has 0.16% invested in 3M Co (NYSE:MMM) for 3,353 shares.
Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 11 selling transactions for $8.36 million net activity. $299,515 worth of 3M Co (NYSE:MMM) shares were sold by Ashish Khandpur K. 4,036 shares were sold by Roman Michael F, worth $726,480 on Tuesday, December 13. Little Frank R Jr. sold 3,778 shares worth $674,198. $75,864 worth of 3M Co (NYSE:MMM) shares were sold by Hammes Eric D.. Bushman Julie L sold $1.80 million worth of stock or 10,771 shares. $1.62M worth of shares were sold by Bauman James L on Monday, August 1. Shares for $508,323 were sold by Price Kimberly F on Tuesday, August 16.
Analysts await 3M Co (NYSE:MMM) to report earnings on January, 24. They expect $1.91 earnings per share, up 6.11% or $0.11 from last year’s $1.8 per share. MMM’s profit will be $1.14B for 23.29 P/E if the $1.91 EPS becomes a reality. After $2.15 actual earnings per share reported by 3M Co for the previous quarter, Wall Street now forecasts -11.16% negative EPS growth.
More notable recent 3M Co (NYSE:MMM) news were published by: Valuewalk.com which released: “3M Co (MMM): A Buy And Hold Forever Dividend King” on January 11, 2017, also Bloomberg.com with their article: “3M Cuts Profit Outlook Amid Surprise Weakness in Health Care” published on October 25, 2016, Investorplace.com published: “3M Co (MMM) Outlook: CEO Sees Success in 2017 and Beyond” on December 13, 2016. More interesting news about 3M Co (NYSE:MMM) were released by: Fool.com and their article: “Instant Analysis: 3M Company 2017 Outlook Meeting” published on December 14, 2016 as well as Nasdaq.com‘s news article titled: “One Put, One Call Option To Know About for 3M” with publication date: January 09, 2017.
According to Zacks Investment Research, “3M Company is a diversified technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. They are an integrated enterprise characterized by substantial intercompany cooperation in research, manufacturing and marketing of products.”
3M Co (NYSE:MMM) Ratings Coverage
Out of 11 analysts covering 3M (NYSE:MMM), 5 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 45% are positive. 3M has been the topic of 33 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Tuesday, August 4 the stock rating was maintained by RBC Capital Markets with “Underperform”. UBS maintained 3M Co (NYSE:MMM) on Wednesday, December 16 with “Buy” rating. The stock of 3M Co (NYSE:MMM) has “Sell” rating given on Monday, November 21 by Goldman Sachs. The stock of 3M Co (NYSE:MMM) has “Underweight” rating given on Wednesday, March 30 by Morgan Stanley. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, August 25. Bernstein maintained it with “Market Perform” rating and $170 target price in Wednesday, March 30 report. The firm has “Underperform” rating by RBC Capital Markets given on Friday, October 23. The stock of 3M Co (NYSE:MMM) has “Underperform” rating given on Friday, July 24 by RBC Capital Markets. The company was maintained on Wednesday, October 26 by RBC Capital Markets. The company was maintained on Tuesday, April 19 by Citigroup.
MMM Company Profile
3M Company (3M), incorporated on June 25, 1929, is a technology company. The Firm operates through five divisions: Industrial, Safety and Graphics, Health Care; Electronics and Energy, and Consumer. 3M products are sold through various distribution channels, including directly to users and through wholesalers, retailers, jobbers, distributors and dealers in a range of trades in various countries around the world. The Firm operates over 90 manufacturing facilities in approximately 30 states. The Firm operates over 130 manufacturing and converting facilities in approximately 40 countries outside the United States.
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