Lantz Financial LLC Has $1.32 Million Stock Position in 3M Co (NYSE:MMM)

Lantz Financial LLC grew its position in 3M Co (NYSE:MMM) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,502 shares of the conglomerate’s stock after buying an additional 178 shares during the period. Lantz Financial LLC’s holdings in 3M were worth $1,323,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 3M by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 49,688,700 shares of the conglomerate’s stock worth $8,613,040,000 after purchasing an additional 407,636 shares during the period. BlackRock Inc. boosted its stake in 3M by 1.2% in the 2nd quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock worth $6,783,640,000 after purchasing an additional 472,084 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 3M by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,349,242 shares of the conglomerate’s stock worth $927,238,000 after buying an additional 72,266 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 3M by 4.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,440,014 shares of the conglomerate’s stock worth $769,633,000 after buying an additional 173,877 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of 3M by 1,337.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,830,790 shares of the conglomerate’s stock worth $490,689,000 after buying an additional 2,633,848 shares during the last quarter. 66.69% of the stock is owned by institutional investors.

A number of research firms have recently commented on MMM. Credit Suisse Group increased their price objective on shares of 3M from $180.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Barclays reduced their price objective on shares of 3M from $158.00 to $157.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. Royal Bank of Canada reduced their price objective on shares of 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Morgan Stanley reduced their price objective on shares of 3M from $173.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, Citigroup reduced their price objective on shares of 3M from $197.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $174.08.

Shares of MMM stock traded down $1.37 on Friday, reaching $173.15. The stock had a trading volume of 1,573,472 shares, compared to its average volume of 2,790,791. The company has a quick ratio of 1.79, a current ratio of 2.30 and a debt-to-equity ratio of 1.68. The firm’s 50-day moving average is $163.83 and its two-hundred day moving average is $169.15. The firm has a market capitalization of $100.79 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 2.03 and a beta of 1.10. 3M Co has a 12 month low of $150.58 and a 12 month high of $219.75.

3M (NYSE:MMM) last issued its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.09. The company had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $8.20 billion. 3M had a net margin of 15.48% and a return on equity of 54.02%. 3M’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. On average, sell-side analysts forecast that 3M Co will post 9.09 earnings per share for the current fiscal year.

In other 3M news, EVP Khandpur K. Ashish sold 3,362 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $174.20, for a total value of $585,660.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eric D. Hammes sold 1,341 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total transaction of $233,669.25. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Recommended Story: What is a good dividend yield?

Institutional Ownership by Quarter for 3M (NYSE:MMM)

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.