Parsons Capital Management INC Decreased 3M Co (MMM) Stake by $8.82 Million; Shares Declined

June 27, 2018 - By Michael Lund

3M Company (NYSE:MMM) Corporate LogoDuring Q1 2018 the big money sentiment decreased to 0.77. That’s change of 0.06, from 2017Q4’s 0.83. 65 investors sold all, 643 reduced holdings as MMM ratio worsened. 434 grew stakes while 113 funds bought stakes. Funds hold 377.88 million shares thus 1.35% less from 2017Q4’s 383.04 million shares. Blair William & Il has 0.31% invested in 3M Company (NYSE:MMM) for 201,726 shs. Stewart Patten Company Ltd Liability Company holds 4.94% of its capital in 3M Company (NYSE:MMM) for 116,339 shs. Eaton Vance holds 0.64% of its capital in 3M Company (NYSE:MMM) for 1.18M shs. First Fiduciary Inv Counsel holds 3.75% or 85,878 shs. Laffer Invests holds 0% in 3M Company (NYSE:MMM) or 15,707 shs. Sabal holds 91,778 shs. Mogy Joel R Inv Counsel Inc reported 10,545 shs. Thrivent For Lutherans owns 30,582 shs or 0.02% of their US capital. Bartlett And Ltd Liability Com holds 0.16% or 17,414 shs in its capital. Loring Wolcott Coolidge Fiduciary Advsrs Ltd Liability Partnership Ma has invested 0.18% in 3M Company (NYSE:MMM). Moreover, Cognios Limited Liability Co has 1.1% invested in 3M Company (NYSE:MMM) for 13,889 shs. Princeton Port Strategies Grp Incorporated Llc reported 0.41% stake. Blume Capital Mngmt Incorporated holds 0.29% or 2,354 shs. Spectrum Mgmt Grp has 0.58% invested in 3M Company (NYSE:MMM) for 7,335 shs. Canandaigua Financial Bank And Company holds 23,237 shs.

MMM had 16 insider sales and 0 insider buys since January 31, 2018. This’s net activity of $30.99 million. The insider THULIN INGE G sold $8.85M. The insider Vrohidis Ippocratis sold $56,178. $1.02M worth of 3M Company (NYSE:MMM) shs were sold by Roman Michael F. On Friday, February 2 Bauman James L had sold 8,834 shs worth $2.19 million. Keel Paul A sold $3.33M worth of stock. 1,681 3M Company (NYSE:MMM) shs with value of $419,846 were sold by Gangestad Nicholas C.

Parsons Capital Management Inc’s stake in 3M Co (MMM) is reduced by 12.45% based on its latest 2018Q1 regulatory filing with the SEC. By selling 40,289 shares Parsons Capital Management Inc made the stock sank with 18.48%. At the end of 2018Q1, the 283,286 shares of the medical and dental instruments company held by the institutional investor were valued at $62.19 million, down from 323,575 at the end of the previous reported quarter. 3M Co has $118.44B market cap. The stock increased 1.48% or $2.91 during the last trading session, reaching $199.49.Currently 3M Company is downtrending after 0.26% change in last June 27, 2017. MMM has 460,971 shares volume. MMM underperformed the S&P 500 by 12.83%.

Parsons Capital Management Inc has risen its stake in and also increased its holding in by shares in the quarter, for a total of shares.

On July, 24 3M Company (NYSE:MMM)’s earnings release is expected by WallStreet, as reported by Faxor. Analysts forecast 1.94 % diference or $2.63 from the $2.58 EPS from 2017. This could reach $1.56B profit for MMM assuming the current $2.63 EPS will become reality. After $2.50 EPS was reported previous quarter, analysts now see EPS growth of 5.20 % for 3M Company.

A couple more 3M Company (NYSE:MMM) news were published by: Seekingalpha.com which released on May 30, 2018 “3M: Buy The Dip”, also Seekingalpha.com on June 09, 2018 published “3M Company: Time To Break Up This Giant?”, the next Fool.com is “The 1 Reason to Avoid 3M Company’s Stock” on June 06, 2018. Seekingalpha.com has article titled “3M Company: It Didn’t Take A Crystal Ball To See That It Was Overvalued – Part 3”.

3M Company (NYSE:MMM) Ratings Coverage

In total 12 analysts cover 3M Company (NYSE:MMM). “Buy” rating has 6, “Sell” are 3, while 3 are “Hold”. 50% are bullish. With $28400 highest and $210 lowest PT 3M Company has $233 average PT or 16.80% above the current ($199.49) price. 24 are the (NYSE:MMM)’s analyst reports since January 3, 2018 according to StockzIntelligence Inc. The company rating was downgraded by Jefferies on Wednesday, May 16. On Tuesday, April 3 the stock of 3M Company (NYSE:MMM) earned “Hold” rating by Stifel Nicolaus. On Wednesday, April 25 the stock has “Hold” rating by Stifel Nicolaus. The stock rating was maintained by RBC Capital Markets with “Hold” on Tuesday, April 24. On Wednesday, January 3 RBC Capital Markets maintained 3M Company (NYSE:MMM) rating. RBC Capital Markets has “Hold” rating and $240.0 target. On Thursday, May 3 the company was upgraded by RBC Capital Markets. On Thursday, February 15 Stifel Nicolaus maintained 3M Company (NYSE:MMM) with “Hold” rating. On Thursday, March 22 RBC Capital Markets maintained the shares of MMM in report with “Hold” rating. The company rating was maintained by UBS on Thursday, April 26. On Monday, March 26 the stock has “Underweight” rating by Barclays Capital.

3M Company (NYSE:MMM) Institutional Investors Chart

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