Paragon Capital Management Ltd lessened its holdings in 3M Co (NYSE:MMM) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,439 shares of the conglomerate’s stock after selling 305 shares during the quarter. 3M accounts for approximately 0.5% of Paragon Capital Management Ltd’s holdings, making the stock its 20th biggest holding. Paragon Capital Management Ltd’s holdings in 3M were worth $943,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MMM. Physicians Financial Services Inc. grew its holdings in shares of 3M by 11.7% in the 1st quarter. Physicians Financial Services Inc. now owns 16,859 shares of the conglomerate’s stock worth $3,503,000 after purchasing an additional 1,763 shares during the last quarter. Steinberg Global Asset Management grew its holdings in shares of 3M by 52.6% in the 1st quarter. Steinberg Global Asset Management now owns 4,903 shares of the conglomerate’s stock worth $1,019,000 after purchasing an additional 1,689 shares during the last quarter. Vectors Research Management LLC grew its holdings in shares of 3M by 16.0% in the 4th quarter. Vectors Research Management LLC now owns 725 shares of the conglomerate’s stock worth $138,000 after purchasing an additional 100 shares during the last quarter. Searle & CO. grew its holdings in shares of 3M by 3.6% in the 1st quarter. Searle & CO. now owns 3,643 shares of the conglomerate’s stock worth $757,000 after purchasing an additional 126 shares during the last quarter. Finally, Maple Capital Management Inc. grew its holdings in shares of 3M by 15.7% in the 4th quarter. Maple Capital Management Inc. now owns 8,108 shares of the conglomerate’s stock worth $1,545,000 after purchasing an additional 1,102 shares during the last quarter. 66.62% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MMM traded down $4.15 during mid-day trading on Friday, reaching $173.98. 4,014,037 shares of the company were exchanged, compared to its average volume of 2,726,612. 3M Co has a 12 month low of $159.32 and a 12 month high of $219.75. The firm’s fifty day moving average is $171.73. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.38 and a current ratio of 1.93. The stock has a market capitalization of $102.68 billion, a PE ratio of 16.63, a PEG ratio of 1.87 and a beta of 1.09.

3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. 3M had a net margin of 15.27% and a return on equity of 55.05%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the prior year, the firm earned $2.59 EPS. The company’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts predict that 3M Co will post 9.35 EPS for the current fiscal year.

In other 3M news, insider Joaquin Delgado sold 5,400 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $169.68, for a total transaction of $916,272.00. Following the sale, the insider now owns 28,092 shares of the company’s stock, valued at approximately $4,766,650.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $176.26 per share, for a total transaction of $176,260.00. Following the acquisition, the director now owns 4,000 shares in the company, valued at $705,040. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,200 shares of company stock worth $559,260. Insiders own 0.83% of the company’s stock.

Several research firms have recently weighed in on MMM. Wolfe Research set a $205.00 target price on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. Zacks Investment Research raised shares of Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Deutsche Bank upped their target price on shares of Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Argus upped their target price on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. set a $195.00 target price on shares of bluebird bio and gave the stock a “buy” rating in a report on Friday, May 17th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. 3M presently has a consensus rating of “Hold” and a consensus price target of $182.08.

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.

Read More: Capital Gains Distribution

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

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