United Capital Management of KS Inc. Acquires 571 Shares of 3M Co (NYSE:MMM)

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United Capital Management of KS Inc. lifted its holdings in 3M Co (NYSE:MMM) by 6.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,945 shares of the conglomerate’s stock after acquiring an additional 571 shares during the quarter. 3M accounts for about 1.1% of United Capital Management of KS Inc.’s holdings, making the stock its 29th biggest holding. United Capital Management of KS Inc.’s holdings in 3M were worth $1,527,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MMM. Destination Wealth Management increased its holdings in 3M by 3.3% in the 2nd quarter. Destination Wealth Management now owns 1,841 shares of the conglomerate’s stock worth $319,000 after acquiring an additional 59 shares in the last quarter. Northwest Bancshares Inc. grew its holdings in shares of 3M by 4.4% in the second quarter. Northwest Bancshares Inc. now owns 1,427 shares of the conglomerate’s stock valued at $247,000 after purchasing an additional 60 shares in the last quarter. Newman Dignan & Sheerar Inc. grew its holdings in shares of 3M by 2.6% in the second quarter. Newman Dignan & Sheerar Inc. now owns 2,408 shares of the conglomerate’s stock valued at $417,000 after purchasing an additional 60 shares in the last quarter. Advisors Management Group Inc. ADV grew its holdings in shares of 3M by 2.4% in the second quarter. Advisors Management Group Inc. ADV now owns 2,776 shares of the conglomerate’s stock valued at $481,000 after purchasing an additional 65 shares in the last quarter. Finally, Notis McConarty Edward grew its holdings in shares of 3M by 0.3% in the second quarter. Notis McConarty Edward now owns 25,814 shares of the conglomerate’s stock valued at $4,474,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 66.78% of the company’s stock.

Shares of 3M stock traded up $0.69 on Tuesday, reaching $161.20. 203,543 shares of the stock were exchanged, compared to its average volume of 2,882,862. The company has a quick ratio of 1.34, a current ratio of 1.93 and a debt-to-equity ratio of 1.53. 3M Co has a twelve month low of $150.58 and a twelve month high of $219.75. The firm has a market capitalization of $90.95 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.79 and a beta of 1.11. The business has a 50 day moving average price of $161.82 and a two-hundred day moving average price of $174.94.

3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. The company had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. 3M’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.59 earnings per share. Research analysts forecast that 3M Co will post 9.32 EPS for the current year.

A number of analysts recently issued reports on MMM shares. Morgan Stanley lowered their price target on 3M from $177.00 to $173.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Royal Bank of Canada set a $179.00 price target on 3M and gave the stock a “hold” rating in a research report on Friday, July 26th. UBS Group lowered their price target on 3M from $201.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. raised their price target on 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Finally, Credit Suisse Group raised their price target on 3M from $180.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $180.84.

In other news, insider John Patrick Banovetz sold 1,040 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $170.40, for a total transaction of $177,216.00. Following the completion of the transaction, the insider now directly owns 5,974 shares of the company’s stock, valued at approximately $1,017,969.60. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

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.

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

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