Should Investors Be Selling 3M (NYSE:MMM) Stock Following Today’s Jefferies Downgrade?

May 16, 2018 - By Anna Granville

3M Company (NYSE:MMM) Logo

Investors sentiment increased to 0.83 in Q4 2017. Its up 0.06, from 0.77 in 2017Q3. It improved, as 47 investors sold 3M Company 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.

Osborne Prns Capital Management Ltd Liability Corp holds 0.07% of its portfolio in 3M Company (NYSE:MMM) for 2,250 shares. Clearbridge Invs Ltd Liability Co accumulated 2.42 million shares. Wagner Bowman Corp invested in 1.02% or 16,196 shares. Bank reported 0.57% in 3M Company (NYSE:MMM). Moreover, Parametrica Mgmt has 0.24% invested in 3M Company (NYSE:MMM) for 1,621 shares. First Fiduciary Inv Counsel stated it has 88,440 shares or 3.79% of all its holdings. Capstone Investment Advsr Ltd Co holds 0.03% or 4,116 shares in its portfolio. Calamos Advsrs Limited Co owns 0.06% invested in 3M Company (NYSE:MMM) for 51,845 shares. 17,216 are owned by Bailard Incorporated. 102,211 are owned by Bnp Paribas Asset Management Holding Sa. Denver Inv Advsr Limited Liability Company invested 1.07% of its portfolio in 3M Company (NYSE:MMM). Cap One Association accumulated 54,445 shares. Barrett Asset Management Llc holds 2.67% of its portfolio in 3M Company (NYSE:MMM) for 160,953 shares. Usca Ria Limited Liability Com owns 2,573 shares. Thomaspartners holds 1.04M shares or 1.79% of its portfolio.

Since January 31, 2018, it had 0 insider buys, and 16 insider sales for $30.99 million activity. 6,243 shares valued at $1.54M were sold by Vale Michael G. on Friday, February 2. 3,133 3M Company (NYSE:MMM) shares with value of $742,051 were sold by Little Frank R Jr.. 5,438 shares were sold by THULIN INGE G, worth $1.37M. 225 shares were sold by Vrohidis Ippocratis, worth $56,178. $3.33 million worth of 3M Company (NYSE:MMM) was sold by Keel Paul A. Shin Hak Cheol also sold $1.68 million worth of 3M Company (NYSE:MMM) shares.

3M (NYSE:MMM) Receives a Downgrade

Shares of 3M (NYSE:MMM) were decreased to a Hold by research professionals at Jefferies. MMM’s rating of a Buy has been discontinued.

3M Company (NYSE:MMM) Ratings Coverage

Among 12 analysts covering 3M Company (NYSE:MMM), 7 have Buy rating, 3 Sell and 2 Hold. Therefore 58% are positive. 3M Company has $28400 highest and $210 lowest target. $237.55’s average target is 18.85% above currents $199.88 stock price. 3M Company had 27 analyst reports since December 12, 2017 according to SRatingsIntel. RBC Capital Markets maintained the stock with “Hold” rating in Tuesday, April 24 report. JP Morgan maintained the stock with “Underweight” rating in Thursday, April 26 report. The stock of 3M Company (NYSE:MMM) has “Hold” rating given on Friday, January 26 by Stifel Nicolaus. The stock of 3M Company (NYSE:MMM) earned “Hold” rating by RBC Capital Markets on Tuesday, December 12. The stock of 3M Company (NYSE:MMM) has “Sell” rating given on Thursday, January 18 by J.P. Morgan. RBC Capital Markets maintained the stock with “Hold” rating in Wednesday, January 3 report. The stock has “Neutral” rating by UBS on Thursday, April 26. The firm has “Hold” rating given on Thursday, February 15 by Stifel Nicolaus. The firm earned “Buy” rating on Thursday, May 3 by RBC Capital Markets. CFRA upgraded the shares of MMM in report on Tuesday, April 24 to “Buy” rating.

The stock decreased 1.25% or $2.53 during the last trading session, reaching $199.88. About 834,171 shares traded. 3M Company (NYSE:MMM) has risen 13.36% since May 16, 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 EPS, up 1.94 % or $0.05 from last year’s $2.58 per share. MMM’s profit will be $1.56 billion for 19.00 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.

3M Company operates as a diversified technology firm worldwide. The company has market cap of $118.67 billion. The companyÂ’s Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; advanced ceramics; sealants; specialty materials; separation and purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products. It has a 25.21 P/E ratio. The Company’s Safety and Graphics Business segment provides personal protection products, traffic safety and security products, commercial graphics systems, commercial cleaning and protection products, floor matting, roofing granules for asphalt shingles, and fall protection products.

More notable recent 3M Company (NYSE:MMM) news were published by: Seekingalpha.com which released: “3M: Buy On Earnings Dip?” on April 25, 2018, also Investorplace.com with their article: “Resistance Looms Large for 3M Co Stock — Short It!” published on May 11, 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: Benzinga.com and their article: “Benzinga’s Top Upgrades, Downgrades For May 16, 2018” published on May 16, 2018 as well as 247Wallst.com‘s news article titled: “Why 3M Earnings Aren’t Enough” with publication date: April 24, 2018.

3M Company (NYSE:MMM) Institutional Positions Chart

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