November 24, 2016 - By Ellis Scott · 0 Comments
3M Co (NYSE:MMM) institutional sentiment is 0.78 in Q2 2016. Its the same as in 2016Q1. The ratio is neither negative nor positive, as only 512 active investment managers increased and started new equity positions, while 654 reduced and sold their stock positions in 3M Co. The active investment managers in our partner’s database now hold: 386.81 million shares, down from 391.41 million shares in 2016Q1. Also, the number of active investment managers holding 3M Co in their top 10 equity positions decreased from 104 to 103 for a decrease of 1. Sold All: 60 Reduced: 594 Increased: 464 New Position: 48.
3M Company is a technology company. The Firm operates through five divisions. The company has a market cap of $103.84 billion. The Company’s Industrial segment serves markets, such as automotive original equipment maker and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. It has a 21.7 P/E ratio. The Company’s Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
The stock increased 0.20% or $0.34 on November 23, hitting $172.25. About 1.48M shares traded hands. 3M Co (NYSE:MMM) has risen 2.13% since April 22, 2016 and is uptrending. It has underperformed by 3.28% the S&P500.
Analysts await 3M Co (NYSE:MMM) to report earnings on January, 24. They expect $1.91 EPS, up 6.11% or $0.11 from last year’s $1.8 per share. MMM’s profit will be $1.15B for 22.55 P/E if the $1.91 EPS becomes a reality. After $2.15 actual EPS reported by 3M Co for the previous quarter, Wall Street now forecasts -11.16% negative EPS growth.
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.”
Spinnaker Trust holds 16.01% of its portfolio in 3M Co for 663,461 shares. Somerset Group Llc owns 75,923 shares or 13.92% of their US portfolio. Moreover, White Pine Capital Llc has 11.94% invested in the company for 161,994 shares. The Georgia-based Atlanta Capital Group has invested 10.35% in the stock. Cincinnati Specialty Underwriters Insurance Co, a Ohio-based fund reported 40,100 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 9 selling transactions for $7.56 million net activity.
Ratings analysis reveals 50% of 3M’s analysts are positive. Out of 10 Wall Street analysts rating 3M, 5 give it “Buy”, 3 “Sell” rating, while 2 recommend “Hold”. The lowest target is $135 while the high is $194. The stock’s average target of $171.75 is -0.29% below today’s ($172.25) share price. MMM was included in 31 notes of analysts from July 24, 2015. The firm has “Underperform” rating given on Tuesday, August 4 by RBC Capital Markets. The rating was maintained by Jefferies on Tuesday, April 12 with “Buy”. The rating was initiated by Citigroup on Thursday, January 21 with “Buy”. RBC Capital Markets maintained the shares of MMM in a report on Friday, July 24 with “Underperform” rating. The firm earned “Hold” rating on Tuesday, August 25 by Deutsche Bank. The firm has “Market Perform” rating by Bernstein given on Wednesday, March 30. The firm has “Underperform” rating given on Wednesday, October 26 by RBC Capital Markets. The stock of 3M Co (NYSE:MMM) earned “Buy” rating by Citigroup on Tuesday, April 19. As per Wednesday, March 30, the company rating was maintained by Morgan Stanley. The rating was downgraded by Goldman Sachs to “Sell” on Monday, November 21.
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.
More important recent 3M Co (NYSE:MMM) news were published by: Bloomberg.com which released: “3M Cuts Profit Outlook Amid Surprise Weakness in Health Care” on October 25, 2016, also Reuters.com published article titled: “Post-it maker 3M trims forecasts for second time”, Schaeffersresearch.com published: “Analyst Downgrades: McDonald’s Corporation, 3M Co, and Abercrombie & Fitch Co.” on November 21, 2016. More interesting news about 3M Co (NYSE:MMM) was released by: Seekingalpha.com and their article: “Dividend Aristocrats In Focus Part 33: 3M Co.” with publication date: November 08, 2016.
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By Ellis Scott