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Marshwinds Advisory Company downgrades 3M stock

According to the recent filing with the Securities and Exchange Commission (SEC), about 8.9% stake in 3M Company was lowered by the Marshwinds Advisory Company during the fourth quarter. The company currently owns 21,004 shares after selling 2,049 shares amid session. Approximately 1.7% of Marshwinds Advisory Company’s holdings is accounted by 3M, which claims the 17th largest position. Marshwinds Advisory Company’s holding in 3M amounted to $3,164,000 as per recent filing with the SEC.

Many institutional investors made changes in the company’s stock. Janus Capital Management upgraded shares in 3M Co by 0.8% amid the third quarter. It now owns 3,309,372 shares worth $469,170,000 after purchasing an additional 27,085 shares amid prior quarter. Eagle Asset Management added shares by 243.7% in the third quarter. It now owns 1,011,324 shares with a value of $143,374,000 after purchasing an additional 717,118 shares amid prior quarter. National increased shares by 0.7% in the fourth quarter. It now owns about 185,158 shares with a total value of $27,892,000 after purchasing an additional 1,222 share amid prior quarter. 


Chelsea Counsel Company lifted shares by 5.9% in the third quarter. It now owns 118,728 shares amounting to $16,832,000 after purchasing an additional 6,568 shares amid prior quarter. Lastly, Fulton Bank upgraded shares by 36.7% in the fourth quarter and now owns 19,668 shares valued at $2,963,000 after purchasing an additional 5,276 shares amid prior quarter. 

Company shares of 3M Co declined by 1.52% during session on Wednesday, and hit $138.72. Shares worth 2,598,252 traded hands. The market cap of the firm stands at $85.41 billion along with a 17.93 P/E ratio. The stock registered a $134.00 12-month low, while $170.50 of 12-month high. It posted a 50-day moving average of $151.41, while a $150.08 was noted in its 200-day moving average.

3M Co recently issued its financial earnings for the quarter on October 22nd. It posted a quarterly earnings per share (EPS) of $2.05, beating the consensus estimate of $2.01 by $0.04. Amid the same quarter prior year, the company earned an earnings per share of $1.98. Its quarterly revenue settled at $7.71 billion, topping the consensus estimate of $7.85 billion. The business’s quarterly revenue dropped by about 5.2% compared to the same quarter prior year. Analysts are expecting 3M Co to post an EPS of $7.55 for the current fiscal year.  

Many research firms currently weigh in on the 3M stock. RBC Capital reassigned a rating of “sell” on December 17th. Credit Suisse upgraded shares from a rating of “neutral” to an “outperform” and lowered their price objective from $160.00 to $155.00 on September 25th. Barclays increased their price objective from $135.00 to $150.00 and issued a rating of “equal weight” on October 23rd. Morgan Stanley slashed off their price objective from $156.00 to $147 on October 7th. Lastly, Zacks Investment Research downgraded its rating from “hold” to a “sell” on October 27th. One analysts of which gave a sell rating on the stock, five issued a rating of hold, four assigned a rating of buy, and one set a rating of strong buy. The average rating of the firm stands at “Hold” along with a $159.89 consensus price objective.  


On the October 27th transaction, CEO Inge G. Thulin sold 52,000 shares. The average price of the sold shares settled at $155.85 with a total transaction value of $8,104,200.00. After the acquisition, the chief executive officer now owns 100,905 shares, valued at $15,726,044.25. The transaction was disclosed in a filing with the SEC.

Furthermore, on the October 30th transaction, VP Joaquin Delgado sold 11,370 shares. The average price of the sold shares settled at $158.29 with a total value of $1,799,757.30. After the sale, the executive vice president now owns 14,568 shares, amounting to $2,305,968.72.

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