As 3M Co (MMM) Market Valuation Rose, Hightower Advisors LLC Boosted Its Holding

December 7, 2017 - By Maria Brooks

Investors sentiment increased to 0.91 in 2017 Q2. Its up 0.10, from 0.81 in 2017Q1. It is positive, as 45 investors sold MMM shares while 589 reduced holdings. 131 funds opened positions while 449 raised stakes. 387.02 million shares or 0.60% more from 384.71 million shares in 2017Q1 were reported. Douglass Winthrop Limited has 0.57% invested in 3M Company (NYSE:MMM). Brown Advisory Securities Ltd Liability Corporation has invested 0.56% in 3M Company (NYSE:MMM). Pnc Svcs Gp reported 3.35 million shares. Toronto Dominion Comml Bank owns 225,162 shares for 0.15% of their portfolio. Clark Capital Gru has invested 0.04% in 3M Company (NYSE:MMM). 6,560 were reported by Pettee Invsts Inc. Zacks Mngmt stated it has 0.04% of its portfolio in 3M Company (NYSE:MMM). Moreover, Ameritas Inv Prtn has 0.17% invested in 3M Company (NYSE:MMM) for 16,795 shares. Cape Ann Bank & Trust reported 2.3% stake. 24,293 were reported by Meeder Asset Management. Sun Life holds 0.2% in 3M Company (NYSE:MMM) or 8,789 shares. Stratos Wealth Prtn Limited holds 16,849 shares or 0.18% of its portfolio. Bedrijfstakpensioenfonds Voor De Media Pno holds 0.48% or 19,506 shares. Oregon Employees Retirement Fund reported 0.53% stake. Moreover, Loring Wolcott And Coolidge Fiduciary Ltd Liability Partnership Ma has 0.19% invested in 3M Company (NYSE:MMM) for 46,770 shares.

Hightower Advisors Llc increased its stake in 3M Co (MMM) by 27472.75% based on its latest 2017Q2 regulatory filing with the SEC. Hightower Advisors Llc bought 219,782 shares as the company’s stock rose 7.02% with the market. The institutional investor held 220,582 shares of the medical and dental instruments company at the end of 2017Q2, valued at $45.87M, up from 800 at the end of the previous reported quarter. Hightower Advisors Llc who had been investing in 3M Co for a number of months, seems to be bullish on the $143.13B market cap company. The stock increased 0.68% or $1.63 during the last trading session, reaching $240.3. About 1.37M shares traded. 3M Company (NYSE:MMM) has risen 18.59% since December 7, 2016 and is uptrending. It has outperformed by 1.89% the S&P500.

Hightower Advisors Llc, which manages about $15.08B and $11.55B US Long portfolio, decreased its stake in Western Digital Corp (NASDAQ:WDC) by 47,382 shares to 67,493 shares, valued at $5.99M in 2017Q2, according to the filing. It also reduced its holding in Blackrock Corpor Hi Yld Fd I (HYT) by 683,630 shares in the quarter, leaving it with 47,049 shares, and cut its stake in Ishares Tr (IJJ).

More notable recent 3M Company (NYSE:MMM) news were published by: Streetinsider.com which released: “3M Co. (MMM) Reports Patent Infringement Lawsuit to Protect Dental Restorative …” on December 04, 2017, also Startribune.com with their article: “3M sues Kerr Corp. alleging dental-patent infringement” published on December 04, 2017, Startribune.com published: “3M gives $8 million more to University of Minnesota Driven Campaign” on December 05, 2017. More interesting news about 3M Company (NYSE:MMM) were released by: Bizjournals.com and their article: “Drucker Institute ranks 3M among best-managed US companies (Slideshow)” published on December 07, 2017 as well as Bloomberg.com‘s news article titled: “3M Faces New Cancer Claims in Minnesota’s $5 Billion Lawsuit” with publication date: November 20, 2017.

3M Company (NYSE:MMM) Ratings Coverage

Among 14 analysts covering 3M (NYSE:MMM), 7 have Buy rating, 2 Sell and 5 Hold. Therefore 50% are positive. 3M had 65 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was maintained by Barclays Capital on Friday, April 28 with “Buy”. The stock of 3M Company (NYSE:MMM) has “Equal-Weight” rating given on Monday, October 5 by Barclays Capital. The rating was maintained by Credit Suisse on Friday, April 28 with “Buy”. Morgan Stanley maintained 3M Company (NYSE:MMM) on Wednesday, March 30 with “Underweight” rating. The firm has “Buy” rating by Jefferies given on Thursday, July 13. The rating was initiated by Citigroup with “Buy” on Thursday, January 21. The rating was maintained by RBC Capital Markets on Friday, July 24 with “Underperform”. JP Morgan downgraded the stock to “Underweight” rating in Wednesday, September 20 report. On Tuesday, September 26 the stock rating was maintained by Jefferies with “Buy”. Jefferies maintained 3M Company (NYSE:MMM) on Friday, May 26 with “Buy” rating.

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