Should Investors Head For The Exit? Jefferies Downgrades 3M Company (NYSE:MMM)

May 16, 2018 - By Larry Purdy

3M Company (NYSE:MMM) Logo

Investors sentiment increased to 0.83 in Q4 2017. Its up 0.06, from 0.77 in 2017Q3. It increased, 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.

Legacy Private Tru has 3,793 shares. White Pine Cap Limited Liability Corporation has invested 13.89% in 3M Company (NYSE:MMM). Norinchukin Natl Bank The stated it has 344,028 shares. Fundsmith Ltd Liability Partnership invested in 5.43% or 2.69 million shares. Thompson Siegel & Walmsley Limited Liability holds 5,283 shares. Busey Trust has 14,656 shares for 0.44% of their portfolio. Eads Heald Inv Counsel, a Georgia-based fund reported 9,161 shares. Regal Inv Advsr Ltd Limited Liability Company invested in 0.53% or 10,109 shares. Farr Miller & Washington Limited Liability Corp Dc owns 19,646 shares. Notis owns 3.56% invested in 3M Company (NYSE:MMM) for 26,310 shares. Tortoise Investment Limited Liability Corp invested in 0.23% or 3,384 shares. Legacy Prtnrs holds 16,683 shares. Murphy Pohlad Asset Lc has invested 1.54% in 3M Company (NYSE:MMM). Utd Svcs Automobile Association holds 423,356 shares. Investment Prns Oh Adv accumulated 0.34% or 1,963 shares.

Since January 31, 2018, it had 0 buys, and 16 insider sales for $30.99 million activity. 4,146 shares were sold by Roman Michael F, worth $1.02M on Friday, February 2. On Thursday, February 1 the insider Shin Hak Cheol sold $1.86 million. 2,826 shares were sold by Bauman James L, worth $700,790 on Friday, February 2. THULIN INGE G sold 35,236 shares worth $8.85 million. On Friday, February 2 the insider Vale Michael G. sold $1.54M. Gangestad Nicholas C had sold 1,681 shares worth $419,846.

3M Company (NYSE:MMM) Receives a Downgrade

3M Company (NYSE:MMM) shares have just seen their rating lowered by equity analysts at Jefferies to a ‘”Hold”‘ in a research report revealed on Wednesday morning.

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 18.94% above currents $199.72 stock price. 3M Company had 27 analyst reports since December 12, 2017 according to SRatingsIntel. RBC Capital Markets maintained 3M Company (NYSE:MMM) rating on Thursday, January 25. RBC Capital Markets has “Hold” rating and $254.0 target. The firm has “Underweight” rating by Barclays Capital given on Monday, March 26. The firm earned “Hold” rating on Tuesday, April 24 by RBC Capital Markets. As per Thursday, April 26, the company rating was maintained by UBS. Deutsche Bank upgraded the stock to “Buy” rating in Tuesday, February 13 report. The firm has “Buy” rating by RBC Capital Markets given on Thursday, May 3. CFRA upgraded 3M Company (NYSE:MMM) rating on Tuesday, April 24. CFRA has “Buy” rating and $26000 target. As per Wednesday, April 25, the company rating was maintained by Argus Research. Jefferies maintained it with “Buy” rating and $25000 target in Tuesday, April 24 report. Hilliard Lyons upgraded the stock to “Buy” rating in Wednesday, January 24 report.

The stock decreased 1.33% or $2.69 during the last trading session, reaching $199.72. About 2.31M 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 18.98 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 $118.57 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 25.19 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: 247Wallst.com which released: “Top Analyst Upgrades and Downgrades: 3M, AMD, CenturyLink, Chipotle, F5 Networks, Raymond James, Symantec …” on May 16, 2018, also 247Wallst.com with their article: “Why 3M Earnings Aren’t Enough” published on April 24, 2018, Livetradingnews.com published: “3M Company (NYSE:MMM) Stock Oversold” on April 30, 2018. More interesting news about 3M Company (NYSE:MMM) were released by: Seekingalpha.com and their article: “Retirement Strategy: I Am Done Being Wrong About This Market” published on May 16, 2018 as well as Seekingalpha.com‘s news article titled: “3M: Pullback Has Prompted Me To Increase My Position” with publication date: April 26, 2018.

3M Company (NYSE:MMM) Institutional Positions Chart

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