3M Co (Put) (MMM) Valuation Declined While 683 Capital Management LLC Has Decreased Holding by $4.38 Million

June 16, 2018 - By Nellie Frank

3M Company (NYSE:MMM) LogoInvestors sentiment decreased to 0.77 in 2018 Q1. Its down 0.06, from 0.83 in 2017Q4. It is negative, as 65 investors sold MMM shares while 643 reduced holdings. 113 funds opened positions while 434 raised stakes. 377.88 million shares or 1.35% less from 383.04 million shares in 2017Q4 were reported. Apg Asset Mngmt Nv has invested 0.61% in 3M Company (NYSE:MMM). Oregon Pub Employees Retirement Fund owns 0.84% invested in 3M Company (NYSE:MMM) for 253,404 shares. Guggenheim Cap Ltd holds 0.22% in 3M Company (NYSE:MMM) or 409,539 shares. Harbour Inv Management Ltd holds 2.25% or 13,704 shares in its portfolio. 45,692 are owned by Woodstock. Alpha Windward Ltd Com has invested 0.2% of its portfolio in 3M Company (NYSE:MMM). Meiji Yasuda Life Insurance Company owns 9,777 shares or 0.33% of their US portfolio. Thomas J Herzfeld reported 49 shares. Sandy Spring Retail Bank stated it has 34,267 shares. Compass Cap Mgmt Inc owns 0.13% invested in 3M Company (NYSE:MMM) for 4,108 shares. Massmutual Tru Com Fsb Adv invested 0% of its portfolio in 3M Company (NYSE:MMM). Fort Point Ltd stated it has 6,590 shares. Epoch Ptnrs holds 0.17% of its portfolio in 3M Company (NYSE:MMM) for 219,148 shares. Investment Counsel has invested 0.2% in 3M Company (NYSE:MMM). Segment Wealth Management Limited Liability holds 1.28% of its portfolio in 3M Company (NYSE:MMM) for 23,386 shares.

Since January 31, 2018, it had 0 buys, and 16 selling transactions for $30.99 million activity. Bauman James L had sold 2,826 shares worth $700,790 on Friday, February 2. The insider Roman Michael F sold $1.02 million. On Friday, February 2 Vale Michael G. sold $1.54M worth of 3M Company (NYSE:MMM) or 6,243 shares. 1,681 shares were sold by Gangestad Nicholas C, worth $419,846. On Wednesday, January 31 THULIN INGE G sold $4.75M worth of 3M Company (NYSE:MMM) or 18,866 shares. $474,944 worth of stock was sold by Shin Hak Cheol on Thursday, February 1.

683 Capital Management Llc decreased its stake in 3M Co (Put) (MMM) by 6.77% based on its latest 2018Q1 regulatory filing with the SEC. 683 Capital Management Llc sold 20,000 shares as the company’s stock declined 18.48% with the market. The hedge fund held 275,500 shares of the medical and dental instruments company at the end of 2018Q1, valued at $60.48 million, down from 295,500 at the end of the previous reported quarter. 683 Capital Management Llc who had been investing in 3M Co (Put) for a number of months, seems to be less bullish one the $121.69B market cap company. The stock increased 0.66% or $1.34 during the last trading session, reaching $204.97. About 5.45 million shares traded or 83.45% up from the average. 3M Company (NYSE:MMM) has declined 0.26% since June 16, 2017 and is downtrending. It has underperformed by 12.83% the S&P500.

683 Capital Management Llc, which manages about $566.08 million and $1.13B US Long portfolio, upped its stake in Truecar Inc (NASDAQ:TRUE) by 1.60 million shares to 3.26 million shares, valued at $30.87M in 2018Q1, according to the filing. It also increased its holding in Pg&E Corp (NYSE:PCG) by 91,910 shares in the quarter, for a total of 841,910 shares, and has risen its stake in Tesla Inc (Put) (NASDAQ:TSLA).

Analysts await 3M Company (NYSE:MMM) to report earnings on July, 24. They expect $2.63 EPS, up 1.94 % or $0.05 from last year’s $2.58 per share. MMM’s profit will be $1.56B for 19.48 P/E if the $2.63 EPS becomes a reality. After $2.50 actual EPS 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: Seekingalpha.com which released: “The Evolution Of A Stock Price Over 30 Years” on May 31, 2018, also Seekingalpha.com with their article: “Xpel: Inflection Point For Fast Growing Paint Protection Business” published on June 15, 2018, 247Wallst.com published: “General Electric Firms Up Grip as Dow’s Worst-Performing Stock” on June 16, 2018. More interesting news about 3M Company (NYSE:MMM) were released by: Seekingalpha.com and their article: “3M Company: It Didn’t Take A Crystal Ball To See That It Was Overvalued – Part 3” published on May 31, 2018 as well as Seekingalpha.com‘s news article titled: “3M: Buy The Dip” with publication date: May 30, 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 24 analyst reports since January 3, 2018 according to SRatingsIntel. The stock of 3M Company (NYSE:MMM) earned “Buy” rating by CFRA on Tuesday, April 24. The firm has “Sell” rating given on Thursday, January 18 by J.P. Morgan. The rating was upgraded by Deutsche Bank to “Buy” on Tuesday, February 13. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, April 24. The company was maintained on Thursday, March 22 by RBC Capital Markets. The firm earned “Hold” rating on Thursday, January 25 by RBC Capital Markets. Stifel Nicolaus maintained 3M Company (NYSE:MMM) on Wednesday, April 25 with “Hold” rating. The firm earned “Hold” rating on Wednesday, May 16 by Jefferies. On Tuesday, April 3 the stock rating was maintained by Stifel Nicolaus with “Hold”. The company was maintained on Wednesday, April 25 by Barclays Capital.

3M Company (NYSE:MMM) Institutional Positions Chart

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