3M Co (NYSE:MMM) Institutional Investors Sentiment Index Dive in 2019 Q2

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Sentiment for 3M Co (NYSE:MMM)

3M Co (NYSE:MMM) institutional sentiment decreased to 0.86 in 2019 Q2. Its down -0.12, from 0.98 in 2019Q1. The ratio turned negative, as 552 active investment managers increased and opened new holdings, while 643 reduced and sold their positions in 3M Co. The active investment managers in our partner’s database now own: 375.71 million shares, down from 375.82 million shares in 2019Q1. Also, the number of active investment managers holding 3M Co in their top 10 holdings decreased from 53 to 26 for a decrease of 27. Sold All: 82 Reduced: 561 Increased: 440 New Position: 112.

3M Company operates as a diversified technology firm worldwide. The company has market cap of $98.43 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 20.69 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.

The stock increased 0.77% or $1.31 during the last trading session, reaching $171.89. About 1.82 million shares traded. 3M Company (NYSE:MMM) has declined 14.82% since September 13, 2018 and is downtrending. It has underperformed by 14.82% the S&P500.

Analysts await 3M Company (NYSE:MMM) to report earnings on October, 22. They expect $2.56 earnings per share, down 0.78 % or $0.02 from last year’s $2.58 per share. MMM’s profit will be $1.47B for 16.79 P/E if the $2.56 EPS becomes a reality. After $2.20 actual earnings per share reported by 3M Company for the previous quarter, Wall Street now forecasts 16.36 % EPS growth.

Somerset Group Llc holds 10.3% of its portfolio in 3M Company for 70,080 shares. White Pine Capital Llc owns 157,538 shares or 10.19% of their US portfolio. Moreover, Spinnaker Trust has 10.14% invested in the company for 582,315 shares. The Rhode Island-based Parsons Capital Management Inc Ri has invested 6.84% in the stock. Acg Wealth, a Georgia-based fund reported 245,963 shares.

Since January 1, 0001, it had 1 buy, and 0 sales for $176,260 activity.

3M Company (NYSE:MMM) Ratings Coverage

Ratings analysis reveals 13% of 3M’s analysts are positive. Out of 8 Wall Street analysts rating 3M, 1 give it “Buy”, 2 “Sell” rating, while 5 recommend “Hold”. The lowest target is $14000 while the high is $199. The stock’s average target of $178.13 is 3.63% above today’s ($171.89) share price. MMM was included in 14 notes of analysts from March 22, 2019. Morgan Stanley maintained the stock with “Equal-Weight” rating in Monday, July 29 report. The firm has “Sector Perform” rating given on Tuesday, July 9 by RBC Capital Markets. Deutsche Bank maintained 3M Company (NYSE:MMM) on Friday, April 26 with “Hold” rating. The stock of 3M Company (NYSE:MMM) earned “Underweight” rating by JP Morgan on Tuesday, August 6. The stock of 3M Company (NYSE:MMM) earned “Equal-Weight” rating by Morgan Stanley on Friday, May 24. The stock has “Neutral” rating by Bank of America on Thursday, June 27. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, March 22. Deutsche Bank maintained it with “Hold” rating and $188 target in Monday, March 25 report. The stock of 3M Company (NYSE:MMM) has “Underweight” rating given on Wednesday, April 3 by Barclays Capital. Credit Suisse maintained it with “Outperform” rating and $19400 target in Friday, July 26 report.

More notable recent 3M Company (NYSE:MMM) news were published by: Digitaljournal.com which released: “NYSE:MMM Shareholder Notice: Lawsuit Alleges Misleading Statements by 3M Company – Press Release – Digital Journal” on August 20, 2019, also Globenewswire.com with their article: “Pomerantz Law Firm Announces the Filing of a Class Action against 3M Company and Certain Officers – MMM – GlobeNewswire” published on August 23, 2019, Seekingalpha.com published: “3M And The Growth Trap (Podcast Transcript) – Seeking Alpha” on May 31, 2019. More interesting news about 3M Company (NYSE:MMM) were released by: Globenewswire.com and their article: “CLASS ACTION UPDATE for MMM, LB, CAH and PS: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders – GlobeNewswire” published on September 03, 2019 as well as Barrons.com‘s news article titled: “Beware of 3M Stock. – Barron’s” with publication date: August 23, 2019.

3M Company (NYSE:MMM) Institutional Positions Chart

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