Anti-3M Co Institutional Investors Sentiment Runs Low in 2017 Q3

Jeannie Matthews
January 14, 2018

Aristotle Fund Lp sold 8,400 shares as the company's stock rose 39.58% with the market.

Other hedge funds and other institutional investors have also modified their holdings of the company. Edgemoor Investment Advisors Inc who had been investing in Visa Inc for a number of months, seems to be bullish on the $272.15 billion market cap company.

The stock increased 0.05% or $0.01 during the last trading session, reaching $21.42. About 941,849 shares traded or 108.18% up from the average.

Analysts await 3M Company (NYSE:MMM) to report earnings on January, 23. It has outperformed by 395.60% the S&P500.

Nadler Financial Group Inc. trimmed its position in shares of 3M Co (NYSE:MMM) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).

The stock of 3M Company (NYSE:MMM) reached all time high today, Jan, 12 and still has $257.65 target or 5.00% above today's $245.38 share price. After $2.33 actual EPS reported by 3M Company for the previous quarter, Wall Street now forecasts -13.30 % negative EPS growth. Appleton Partners Inc. MA now owns 17,593 shares of the conglomerate's stock worth $3,663,000 after buying an additional 2,832 shares during the last quarter. The shares were sold at an average price of $233.14, for a total transaction of $1,590,714.22.

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3M Company (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 24th. It has outperformed by 110.13% the S&P500. Citigroup maintained 3M Company (NYSE:MMM) on Wednesday, October 25 with "Buy" rating. They expect $2.02 EPS, up 7.45% or $0.14 from last year's $1.88 per share. MMM's profit will be $1.20 billion for 30.26 P/E if the $2.02 EPS becomes a reality. The conglomerate reported $2.33 earnings per share for the quarter, beating the Zacks' consensus estimate of $2.21 by $0.12. 6,823 shares were sold by THULIN INGE G, worth $1.59M on Friday, October 27.

Investors sentiment decreased to 1 in 2017 Q3. Its down 0.14, from 0.91 in 2017Q2. Garland Cap Mngmt invested in 3.78% or 28,152 shares. 142 funds opened positions while 524 raised stakes. 196.05 million shares or 0.97% more from 194.17 million shares in 2017Q2 were reported. Adell Harriman Carpenter Inc owns 1,516 shares. Farr Miller And Washington Limited Liability Dc invested in 19,159 shares or 0.38% of the stock.

Tortoise Investment Management Llc holds 1.61% of its portfolio in Nuveen Build America Bond Fund for 246,004 shares. (NYSE:BLK). Junto Capital Mgmt Ltd Partnership has 176,197 shares. Stadion Money Management Limited Liability holds 0.02% of its portfolio in 3M Company (NYSE:MMM) for 2,507 shares. Trust Co. of Toledo NA OH now owns 7,272 shares of the company's stock worth $1,273,000 after buying an additional 136 shares during the last quarter. Winslow Evans Crocker stated it has 70 shares. Lau Associates LLC now owns 17,236 shares of the conglomerate's stock worth $3,588,000 after buying an additional 5,250 shares during the last quarter. Moreover, Nwq Inv Management Co Ltd has 0.1% invested in Loews Corporation (NYSE:L) for 163,508 shares. Tiaa Cref Invest Management Llc reported 4.27M shares. Wealthtrust owns 1,162 shares for 0.05% of their portfolio. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company's stock. Therefore 47% are positive. The Allstate Corporation had 47 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was maintained by Citigroup on Monday, October 9 with "Buy". Also, VP Khandpur K. Ashish sold 4,004 shares of the firm's stock in a transaction dated Wednesday, November 1st. Buckingham Research initiated The Allstate Corporation (NYSE:ALL) on Monday, September 11 with "Sell" rating. The rating was downgraded by Credit Suisse to "Neutral" on Friday, January 6.

Since August 11, 2017, it had 0 insider buys, and 8 sales for $5.40 million activity. The insider Hammes Eric D. sold $295,106. 400 3M Company (NYSE:MMM) shares with value of $92,023 were sold by Lindekugel Jon T. $560,200 worth of 3M Company (NYSE:MMM) was sold by Little Frank R Jr.

In other 3M news, CFO Nicholas C. Gangestad sold 4,004 shares of the stock in a transaction on Friday, October 27th. $1.02 million worth of stock was sold by Keel Paul A on Friday, August 11.

Investors sentiment decreased to 0.77 in Q3 2017. Its down 0.31, from 1.31 in 2017Q2. It dropped, as 59 investors sold MMM shares while 612 reduced holdings. New York State Common Retirement Fund boosted its stake in 3M by 0.5% in the third quarter. Maryland Capital holds 0.1% of its portfolio in 3M Company (NYSE:MMM) for 3,055 shares. The stock of 3M Company (NYSE:MMM) earned "Underweight" rating by Morgan Stanley on Wednesday, March 30. 309,896 were accumulated by Agf Invs. Royal Bank of Canada reissued a "hold" rating and issued a $209.00 price objective on shares of 3M in a research report on Friday, September 15th. Btr Capital Management has 3,987 shares for 0.17% of their portfolio. Plante Moran Limited Liability Corporation invested 0.59% in 3M Company (NYSE:MMM). S&Co owns 67,494 shares for 1.81% of their portfolio. Foyston Gordon Payne reported 2,664 shares. Coho Partners Ltd. now owns 687,532 shares of the conglomerate's stock worth $143,137,000 after purchasing an additional 145,318 shares in the last quarter. Chemung Canal Tru Co holds 0.8% or 16,679 shares in its portfolio. Intersect Cap Limited Liability has invested 0.32% in 3M Company (NYSE:MMM). Following the completion of the sale, the insider now owns 32,717 shares in the company, valued at approximately $5,660,695.34. Proshare Advsrs Ltd Llc holds 0.84% of its portfolio in 3M Company (NYSE:MMM) for 434,044 shares. Blue Bell Private Wealth Mgmt Ltd Company holds 0.06% of its portfolio in 3M Company (NYSE:MMM) for 575 shares.

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