Campbell Newman Asset Management cut its position in shares of 3M Co (NYSE:MMM) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The hedge fund owned 57,679 shares of the company’s stock after selling 74 shares during the period. 3M accounts for approximately 1.9% of Campbell Newman Asset Management’s investment portfolio, making the stock its 28th largest position. Campbell Newman Asset Management’s holdings in 3M were worth $8,688,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Founders Capital Management increased its stake in shares of 3M by 0.4% in the fourth quarter. Founders Capital Management now owns 1,900 shares of the company’s stock worth $286,000 after buying an additional 8 shares in the last quarter. Monroe Bank & Trust increased its stake in shares of 3M by 0.5% in the fourth quarter. Monroe Bank & Trust now owns 6,206 shares of the company’s stock worth $934,000 after buying an additional 30 shares in the last quarter. Hollencrest Securities increased its stake in shares of 3M by 2.6% in the fourth quarter. Hollencrest Securities now owns 1,779 shares of the company’s stock worth $268,000 after buying an additional 45 shares in the last quarter. Southport Capital Management increased its stake in shares of 3M by 0.4% in the fourth quarter. Southport Capital Management now owns 12,546 shares of the company’s stock worth $1,890,000 after buying an additional 49 shares in the last quarter. Finally, Trust Company of Virginia increased its stake in shares of 3M by 0.5% in the fourth quarter. Trust Company of Virginia now owns 9,990 shares of the company’s stock worth $1,505,000 after buying an additional 50 shares in the last quarter.

3M Co (NYSE:MMM) opened at 151.00 on Friday. The company has a market capitalization of $92.01 billion and a price-to-earnings ratio of 19.92. 3M Co has a 52-week low of $134.00 and a 52-week high of $170.50. The stock has a 50 day moving average price of $145.78 and a 200 day moving average price of $149.00.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 26th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.03. The firm earned $7.30 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the company posted $1.81 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts forecast that 3M Co will post $8.23 earnings per share for the current year.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a report on Wednesday, November 4th. Deutsche Bank cut their price objective on 3M from $160.00 to $158.00 and set a “hold” rating on the stock in a report on Thursday. Citigroup Inc. assumed coverage on 3M in a report on Thursday, January 21st. They set a “buy” rating and a $166.00 price objective on the stock. Goldman Sachs raised their price objective on 3M from $147.00 to $151.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, William Blair reissued a “market perform” rating and set a $149.00 price objective on shares of 3M in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. 3M has a consensus rating of “Hold” and an average target price of $157.32.

In related news, VP Marlene Mary Mcgrath sold 9,126 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $159.26, for a total value of $1,453,406.76. Following the transaction, the vice president now owns 10,198 shares of the company’s stock, valued at $1,624,133.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

3M Company is a diversified technology company. The Company operates in five business segments: Industrial, which serves a range of markets, such as automotive original equipment manufacturer (NYSE:MMM) and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction; Safety and Graphics, which serves a range of markets for the safety, security and productivity of people, facilities and systems; Electronics and Energy, which serves customers in electronics and energy markets, including solutions for electronic devices, telecommunications networks, electrical products, power generation and distribution, and infrastructure protection; Health Care, which serves markets that include medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, and health information systems, and Consumer, which serves markets that include consumer retail, office retail, home improvement, building maintenance and other markets.

12 Month Chart for NYSE:MMM

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