Connors Investor Services INC Decreased Its Stake in 3M (MMM) as Shares Declined

April 20, 2018 - By Julia Strobel

3M Company (NYSE:MMM) Corporate LogoDuring Q4 2017 the big money sentiment increased to 0.83. That’s change of 0.06, from 2017Q3’s 0.77. 47 investors sold all, 635 reduced holdings as MMM ratio is positive. 416 rose holdings while 147 funds bought holdings. Funds hold 383.04 million shares thus 1.04% less from 2017Q3’s 387.06 million shares. Mairs And stated it has 3.97% of its capital in 3M Company (NYSE:MMM). Bluemountain Mgmt Limited Com holds 0.06% or 13,550 shs in its capital. Anderson Hoagland And Company holds 7,109 shs. Pettee holds 6,560 shs or 0.94% of its capital. Obermeyer Wood Investment Counsel Lllp has 0.07% invested in 3M Company (NYSE:MMM) for 3,186 shs. Kanawha Capital Management Ltd has invested 2.08% in 3M Company (NYSE:MMM). Stewart & Patten Limited Liability has 5.23% invested in 3M Company (NYSE:MMM) for 124,387 shs. Woodley Farra Manion Port Mgmt reported 0.15% stake. Triangle Securities Wealth Mngmt owns 4,624 shs or 0.62% of their US capital. Roffman Miller Associates Pa stated it has 3.24% in 3M Company (NYSE:MMM). King Luther Capital Mgmt Corp owns 93,607 shs. Schmidt P J Inv Management Inc holds 0.31% of its capital in 3M Company (NYSE:MMM) for 4,656 shs. California-based Checchi Capital Advisers Limited Liability has invested 0.19% in 3M Company (NYSE:MMM). 3,208 were reported by Fin Architects. Provident Inv Management accumulated 1,674 shs.

MMM registered $34.51 million net activity with 0 buys and 21 sales since October 27, 2017. $351,708 worth of stock was sold by Little Frank R Jr. on Friday, October 27. Shin Hak Cheol had sold 6,799 shs worth $1.68M. Fong Ivan K sold $547,377 worth of stock. $3.33M worth of 3M Company (NYSE:MMM) was sold by Keel Paul A. $1.02M worth of 3M Company (NYSE:MMM) was sold by Roman Michael F on Friday, February 2. On Friday, February 2 Bauman James L also sold $2.19M worth of 3M Company (NYSE:MMM).

According to 2017Q4 SEC filling the Connors Investor Services Inc reduced its holdings in 3M (MMM) by 45.77%. The company’s stock sank 8.03% while Connors Investor Services Inc sold 21,780 shares. The medical and dental instruments company announced $6.07 million value for the 2017Q4. Now the institutional investor is holding 25,805 shares, compared to the 47,585 from the previous quarter. 3M has $130.57 billion MC. The stock increased 0.32% or $0.7 during the last trading session, hitting $219.55.Currently 3M Company is uptrending after 13.36% change in last April 20, 2017. MMM has 648,558 shares volume. The stock outperformed the S&P 500 by 1.81%.

Connors Investor Services Inc has risen its stake in and also increased its holding in by shares in the quarter, for a total of shares.

On April, 24 is anticipated 3M Company (NYSE:MMM)’s earnings report, according to Faxor. The EPS diference is $0.34 or 15.74 % up from last years number. Previous year: $2.16; Analysts forcast: $2.50. If $2.50 is reported, MMM’s profit will hit $1.49B for 21.96 P/E. After $2.10 EPS was announced last quarter, analysts now see EPS growth of 19.05 % for 3M Company.

3M Company (NYSE:MMM) Ratings Coverage

Total analysts of 13 have positions in 3M Company (NYSE:MMM) as follows: 7 rated it a “Buy”, 2 with “Sell” and 4 with “Hold”. The positive are 54%. The firm has $28400 highest while $209.0 is the lowest price target. The average target $250.36 is 14.03% above the last ($219.55) price. Since October 25, 2017 according to StockzIntelligence Inc 3M Company has 25 analyst reports. On Wednesday, December 13 the rating was maintained by Stifel Nicolaus with “Hold”. On Tuesday, February 13 the rating was upgraded by Deutsche Bank to “Buy”. On Tuesday, April 3 Stifel Nicolaus maintained 3M Company (NYSE:MMM) with “Hold” rating. On Wednesday, October 25 Credit Suisse maintained 3M Company (NYSE:MMM) with “Outperform” rating. On Wednesday, October 25 the rating was maintained by RBC Capital Markets with “Hold”. On Monday, March 26 the firm earned “Underweight” rating by Barclays Capital. On Thursday, January 25 RBC Capital Markets maintained the shares of MMM in report with “Hold” rating. On Tuesday, December 12 RBC Capital Markets maintained the shares of MMM in report with “Hold” rating. On Thursday, December 14 the firm earned “Buy” rating by Jefferies. On Wednesday, January 24 the company was upgraded by Hilliard Lyons.

3M Company (NYSE:MMM) Institutional Investors Chart

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