3M Co (MMM) Shareholder Us Bancorp De Trimmed Its Holding by $50.69 Million as Stock Value Declined

May 22, 2018 - By Maria Brooks

3M Company (NYSE:MMM) LogoInvestors sentiment increased to 0.83 in Q4 2017. Its up 0.06, from 0.77 in 2017Q3. It is positive, as 47 investors sold MMM shares while 635 reduced holdings. 147 funds opened positions while 416 raised stakes. 383.04 million shares or 1.04% less from 387.06 million shares in 2017Q3 were reported. Wealthtrust owns 220 shares or 0.03% of their US portfolio. Deroy & Devereaux Private Investment Counsel stated it has 0.03% in 3M Company (NYSE:MMM). Murphy has 1.82% invested in 3M Company (NYSE:MMM). Edgestream Ptnrs Lp has invested 0.77% of its portfolio in 3M Company (NYSE:MMM). Mai Cap Mgmt invested in 0.1% or 7,722 shares. Ronna Sue Cohen holds 10,535 shares or 1.77% of its portfolio. Kanawha Capital Management Ltd Com invested in 2.08% or 60,443 shares. Palisades Hudson Asset Lp stated it has 1,571 shares or 0.2% of all its holdings. Moreover, Teacher Retirement System Of Texas has 0.57% invested in 3M Company (NYSE:MMM) for 363,943 shares. Amp Capital Invsts Limited reported 0.41% stake. Prudential Public Ltd Co invested in 467,164 shares or 0.33% of the stock. Meiji Yasuda Life Ins reported 8,474 shares stake. Mogy Joel R Inv Counsel, California-based fund reported 10,545 shares. Braun Stacey Incorporated, a New York-based fund reported 12,660 shares. Dowling & Yahnke Ltd Co reported 36,233 shares stake.

Since January 31, 2018, it had 0 insider purchases, and 16 sales for $30.99 million activity. Shares for $742,051 were sold by Little Frank R Jr.. $474,944 worth of 3M Company (NYSE:MMM) was sold by Shin Hak Cheol on Thursday, February 1. Roman Michael F had sold 4,146 shares worth $1.02 million. Shares for $1.54 million were sold by Vale Michael G. on Friday, February 2. Vrohidis Ippocratis sold 225 shares worth $56,178. Bauman James L sold $2.19 million worth of stock or 8,834 shares.

Us Bancorp De decreased its stake in 3M Co (MMM) by 4.21% based on its latest 2017Q4 regulatory filing with the SEC. Us Bancorp De sold 215,704 shares as the company’s stock declined 8.03% with the market. The institutional investor held 4.91M shares of the medical and dental instruments company at the end of 2017Q4, valued at $1.16B, down from 5.13M at the end of the previous reported quarter. Us Bancorp De who had been investing in 3M Co for a number of months, seems to be less bullish one the $118.86B market cap company. The stock decreased 0.77% or $1.56 during the last trading session, reaching $200.2. About 956,999 shares traded. 3M Company (NYSE:MMM) has risen 13.36% since May 22, 2017 and is uptrending. It has outperformed by 1.81% the S&P500.

Us Bancorp De, which manages about $32.70 billion US Long portfolio, upped its stake in Vanguard Global Ex U S Real Et (VNQI) by 126,588 shares to 1.15 million shares, valued at $69.36 million in 2017Q4, according to the filing. It also increased its holding in Ishares Core Msci Emerging Mkt (IEMG) by 246,184 shares in the quarter, for a total of 4.18 million shares, and has risen its stake in Schwab U S Tips Etf (SCHP).

Analysts await 3M Company (NYSE:MMM) to report earnings on July, 24. They expect $2.63 earnings per share, up 1.94 % or $0.05 from last year’s $2.58 per share. MMM’s profit will be $1.56 billion for 19.03 P/E if the $2.63 EPS becomes a reality. After $2.50 actual earnings per share reported by 3M Company for the previous quarter, Wall Street now forecasts 5.20 % EPS growth.

More notable recent 3M Company (NYSE:MMM) news were published by: 247Wallst.com which released: “Why 3M Earnings Aren’t Enough” on April 24, 2018, also Seekingalpha.com with their article: “3M: Buy On Earnings Dip?” published on April 25, 2018, Seekingalpha.com published: “3M Stumbles, And The Knives Come Out” on April 26, 2018. More interesting news about 3M Company (NYSE:MMM) were released by: Seekingalpha.com and their article: “Jefferies cautious on 3M amid rate, recession fears” published on May 16, 2018 as well as Benzinga.com‘s news article titled: “RBC: 3M Remains One Of The Strongest Industrials” with publication date: May 03, 2018.

3M Company (NYSE:MMM) Ratings Coverage

Among 12 analysts covering 3M Company (NYSE:MMM), 6 have Buy rating, 3 Sell and 3 Hold. Therefore 50% are positive. 3M Company had 28 analyst reports since December 12, 2017 according to SRatingsIntel. On Tuesday, April 24 the stock rating was upgraded by CFRA to “Buy”. RBC Capital Markets maintained it with “Hold” rating and $254.0 target in Thursday, January 25 report. As per Friday, January 26, the company rating was maintained by Stifel Nicolaus. The stock has “Buy” rating by Deutsche Bank on Tuesday, February 13. The stock of 3M Company (NYSE:MMM) has “Underweight” rating given on Monday, March 26 by Barclays Capital. The firm earned “Hold” rating on Wednesday, December 13 by Stifel Nicolaus. Stifel Nicolaus maintained the stock with “Hold” rating in Wednesday, April 25 report. RBC Capital Markets upgraded the shares of MMM in report on Thursday, May 3 to “Buy” rating. Jefferies maintained it with “Buy” rating and $272.0 target in Thursday, December 14 report. The firm has “Underweight” rating by Barclays Capital given on Wednesday, April 25.

3M Company (NYSE:MMM) Institutional Positions Chart

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