3M (NYSE:MMM) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP reduced its holdings in 3M (NYSE:MMM - Free Report) by 61.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,043 shares of the conglomerate's stock after selling 16,019 shares during the period. Brevan Howard Capital Management LP's holdings in 3M were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Financial Life Planners bought a new stake in 3M in the fourth quarter worth $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M during the 4th quarter worth about $26,000. Hazlett Burt & Watson Inc. bought a new position in 3M during the 4th quarter valued at about $27,000. Daymark Wealth Partners LLC raised its position in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after purchasing an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after purchasing an additional 214 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of research analyst reports. Citigroup decreased their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays boosted their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America boosted their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

3M Stock Up 0.8 %

MMM traded up $1.13 during trading on Friday, hitting $142.25. The stock had a trading volume of 2,634,123 shares, compared to its average volume of 4,027,861. The stock has a 50 day simple moving average of $141.31 and a two-hundred day simple moving average of $138.54. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a twelve month low of $96.76 and a twelve month high of $156.35. The company has a market capitalization of $76.56 billion, a PE ratio of 18.84, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. On average, research analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.