D Orazio & Associates Inc. Acquires 109 Shares of 3M Co (NYSE:MMM)

D Orazio & Associates Inc. boosted its holdings in 3M Co (NYSE:MMM) by 22.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 598 shares of the conglomerate’s stock after purchasing an additional 109 shares during the quarter. D Orazio & Associates Inc.’s holdings in 3M were worth $98,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MMM. Nuveen Asset Management LLC boosted its stake in 3M by 1,337.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,830,790 shares of the conglomerate’s stock worth $490,689,000 after purchasing an additional 2,633,848 shares during the period. Thoroughbred Financial Services LLC boosted its stake in 3M by 17,524.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,680,806 shares of the conglomerate’s stock worth $168,081,000 after purchasing an additional 1,671,269 shares during the period. Point72 Asset Management L.P. boosted its stake in 3M by 351.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 540,727 shares of the conglomerate’s stock worth $93,730,000 after purchasing an additional 755,727 shares during the period. BlackRock Inc. boosted its stake in 3M by 1.2% in the 2nd quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock worth $6,783,640,000 after purchasing an additional 472,084 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 3M by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 49,688,700 shares of the conglomerate’s stock worth $8,613,040,000 after purchasing an additional 407,636 shares during the period. Institutional investors and hedge funds own 66.69% of the company’s stock.

Several research firms have weighed in on MMM. Citigroup dropped their price target on 3M from $197.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. UBS Group dropped their price target on 3M from $201.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada dropped their price target on 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating and set a $166.00 price target for the company. in a research note on Monday, October 14th. Finally, Morgan Stanley dropped their price target on 3M from $173.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $174.08.

In related news, EVP Khandpur K. Ashish sold 3,362 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $174.20, for a total value of $585,660.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric D. Hammes sold 1,341 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was 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. 0.83% of the stock is owned by company insiders.

Shares of NYSE MMM traded up $1.29 during midday trading on Thursday, reaching $175.29. 879,549 shares of the stock traded hands, compared to its average volume of 2,994,618. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The stock has a market capitalization of $100.58 billion, a PE ratio of 16.76, a P/E/G ratio of 2.02 and a beta of 1.10. 3M Co has a one year low of $150.58 and a one year high of $219.75. The company’s 50 day moving average is $163.57 and its 200 day moving average is $169.61.

3M (NYSE:MMM) last posted its earnings results on Thursday, October 24th. The conglomerate reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.09. The firm had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $8.20 billion. 3M had a return on equity of 54.02% and a net margin of 15.48%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 EPS. As a group, equities analysts forecast that 3M Co will post 9.09 EPS for the current year.

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.

Read More: Hedge Funds – Risk or Reward?

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.