CoreCap Advisors LLC Acquires 4,213 Shares of 3M (NYSE:MMM)

CoreCap Advisors LLC increased its holdings in 3M (NYSE:MMM - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,914 shares of the conglomerate's stock after buying an additional 4,213 shares during the period. CoreCap Advisors LLC's holdings in 3M were worth $3,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of 3M during the fourth quarter worth about $851,000. Meyer Handelman Co. grew its stake in shares of 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock worth $25,511,000 after purchasing an additional 2,678 shares during the last quarter. USA Financial Formulas bought a new stake in shares of 3M in the fourth quarter worth $816,000. Braun Stacey Associates Inc. grew its stake in shares of 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after purchasing an additional 22,203 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of 3M by 1,615.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate's stock worth $15,780,000 after purchasing an additional 115,116 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Saturday. Citigroup reduced their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Bank of America upped their price target 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. JPMorgan Chase & Co. cut their price target 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. Finally, Royal Bank of Canada upped their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $149.29.

3M Stock Up 0.1%

Shares of MMM traded up $0.16 on Tuesday, reaching $150.49. The company's stock had a trading volume of 1,486,758 shares, compared to its average volume of 4,021,995. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $96.76 and a twelve month high of $156.35. The stock has a market capitalization of $80.99 billion, a PE ratio of 19.93, a PEG ratio of 3.30 and a beta of 1.02. The firm has a fifty day moving average of $141.36 and a 200-day moving average of $138.88.

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

About 3M

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.