Brown Advisory Inc. Sells 2,585 Shares of 3M (NYSE:MMM)

Brown Advisory Inc. reduced its position in shares of 3M (NYSE:MMM - Free Report) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,038 shares of the conglomerate's stock after selling 2,585 shares during the period. Brown Advisory Inc.'s holdings in 3M were worth $12,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in 3M during the fourth quarter worth about $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M during the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M in the 4th quarter worth approximately $27,000. Daymark Wealth Partners LLC lifted its stake in 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 214 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Performance

NYSE MMM opened at $138.15 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $95.01 and a twelve month high of $156.35. The business has a 50-day moving average price of $141.95 and a 200-day moving average price of $138.42. The firm has a market cap of $74.35 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. As a group, equities research analysts predict that 3M will post 7.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup cut 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. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Thursday, April 24th. Finally, Barclays boosted their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $147.00.

3M 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.

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