Delta Asset Management LLC Trimmed Holding in 3M Co (MMM) by $5.20 Million as Shares Declined

May 21, 2018 - By Vivian Currie

3M Company (NYSE:MMM) LogoInvestors sentiment increased to 0.83 in 2017 Q4. Its up 0.06, from 0.77 in 2017Q3. It improved, as 47 investors sold MMM shares while 635 reduced holdings. 147 funds opened positions while 416 raised stakes. 383.04 million shares or 1.04% less from 387.06 million shares in 2017Q3 were reported. Iberiabank accumulated 0.64% or 17,434 shares. Walter And Keenan Consulting Co Mi Adv, Indiana-based fund reported 18,185 shares. Massachusetts-based Boston Family Office Ltd Company has invested 0.97% in 3M Company (NYSE:MMM). Seaward Mngmt Ltd Partnership has 95,372 shares for 1.05% of their portfolio. Pacific Invest Management invested in 24,345 shares or 1.24% of the stock. Sather Gp reported 3,006 shares or 0.18% of all its holdings. Principal Group Inc reported 1.20M shares stake. The Ontario – Canada-based Nexus Investment Mngmt has invested 0.16% in 3M Company (NYSE:MMM). Chilton Invest Comm Lc has invested 0.38% of its portfolio in 3M Company (NYSE:MMM). 30,158 are owned by Victory Capital Mgmt. 66,597 are owned by Salient Lta. Cohen Klingenstein Limited Liability invested in 15,300 shares. Obermeyer Wood Invest Counsel Lllp stated it has 3,186 shares or 0.07% of all its holdings. Financial Advantage Incorporated invested in 21,930 shares. Cadence Mgmt Ltd Com invested in 53,452 shares or 0.8% of the stock.

Since January 31, 2018, it had 0 buys, and 16 selling transactions for $30.99 million activity. 18,866 shares were sold by THULIN INGE G, worth $4.75M. On Thursday, February 1 the insider Vrohidis Ippocratis sold $56,178. 3,133 shares valued at $742,051 were sold by Little Frank R Jr. on Friday, February 23. 6,243 3M Company (NYSE:MMM) shares with value of $1.54M were sold by Vale Michael G.. $419,846 worth of 3M Company (NYSE:MMM) was sold by Gangestad Nicholas C on Thursday, February 1. On Thursday, February 1 the insider Shin Hak Cheol sold $1.86 million.

Delta Asset Management Llc decreased its stake in 3M Co (MMM) by 12.75% based on its latest 2017Q4 regulatory filing with the SEC. Delta Asset Management Llc sold 22,121 shares as the company’s stock declined 8.03% with the market. The institutional investor held 151,333 shares of the medical and dental instruments company at the end of 2017Q4, valued at $35.62 million, down from 173,454 at the end of the previous reported quarter. Delta Asset Management Llc who had been investing in 3M Co for a number of months, seems to be less bullish one the $118.12 billion market cap company. The stock decreased 0.70% or $1.4 during the last trading session, reaching $198.96. About 2.93 million shares traded or 0.13% up from the average. 3M Company (NYSE:MMM) has risen 13.36% since May 21, 2017 and is uptrending. It has outperformed by 1.81% the S&P500.

Analysts await 3M Company (NYSE:MMM) to report earnings on July, 24. They expect $2.63 earnings per share, up 1.94 % or $0.05 from last year’s $2.58 per share. MMM’s profit will be $1.56B for 18.91 P/E if the $2.63 EPS becomes a reality. After $2.50 actual earnings per share 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: 247Wallst.com which released: “Why 3M Earnings Aren’t Enough” on April 24, 2018, also Seekingalpha.com with their article: “3M: Buy On Earnings Dip?” published on April 25, 2018, Seekingalpha.com published: “3M: Pullback Has Prompted Me To Increase My Position” on April 26, 2018. More interesting news about 3M Company (NYSE:MMM) were released by: Seekingalpha.com and their article: “3M Stumbles, And The Knives Come Out” published on April 26, 2018 as well as Livetradingnews.com‘s news article titled: “3M Company (NYSE:MMM) Stock Oversold” with publication date: April 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 has $28400 highest and $210 lowest target. $233’s average target is 17.11% above currents $198.96 stock price. 3M Company had 28 analyst reports since December 12, 2017 according to SRatingsIntel. Argus Research maintained 3M Company (NYSE:MMM) rating on Wednesday, April 25. Argus Research has “Buy” rating and $240 target. The rating was maintained by Stifel Nicolaus with “Hold” on Tuesday, April 3. RBC Capital Markets maintained 3M Company (NYSE:MMM) on Thursday, March 22 with “Hold” rating. The firm earned “Hold” rating on Tuesday, April 24 by RBC Capital Markets. The stock of 3M Company (NYSE:MMM) earned “Sell” rating by J.P. Morgan on Thursday, January 18. RBC Capital Markets upgraded 3M Company (NYSE:MMM) on Thursday, May 3 to “Buy” rating. Jefferies maintained it with “Buy” rating and $272.0 target in Thursday, December 14 report. The firm has “Hold” rating given on Wednesday, April 25 by Stifel Nicolaus. The firm earned “Buy” rating on Wednesday, January 24 by Hilliard Lyons. The rating was upgraded by Deutsche Bank to “Buy” on Tuesday, February 13.

3M Company (NYSE:MMM) Institutional Positions Chart

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