L & S Advisors INC Holding in 3M Company (MMM) Cut by $3.19 Million

May 17, 2018 - By Jimmy Baldridge

3M Company (NYSE:MMM) LogoInvestors sentiment increased to 0.83 in Q4 2017. Its up 0.06, from 0.77 in 2017Q3. It improved, as 47 investors sold MMM 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. Viking Fund Mngmt Limited Liability Company reported 13,200 shares. Ipswich Invest Inc has 3,940 shares for 0.39% of their portfolio. 521,700 are owned by Cincinnati Insur. Stock Yards Bank & Trust Tru has invested 0.55% in 3M Company (NYSE:MMM). Alpha Cubed Ltd holds 6,360 shares or 0.2% of its portfolio. Blue Bell Private Wealth Mngmt Ltd Liability owns 575 shares. Management Professionals reported 0% of its portfolio in 3M Company (NYSE:MMM). Cadinha Ltd Liability Com holds 3,332 shares or 0.11% of its portfolio. Cadence Bancorporation Na owns 15,368 shares. Cap Mgmt Corporation Va accumulated 3,965 shares. Eaton Vance has 1.22M shares for 0.69% of their portfolio. Buckingham Cap Management reported 5,912 shares stake. Utah Retirement Sys reported 107,859 shares. Moreover, Wagner Bowman Management has 1.02% invested in 3M Company (NYSE:MMM) for 16,196 shares. Private Asset has invested 0.16% in 3M Company (NYSE:MMM).

Since January 31, 2018, it had 0 buys, and 16 selling transactions for $30.99 million activity. THULIN INGE G had sold 35,236 shares worth $8.85M on Wednesday, January 31. Shin Hak Cheol sold 7,473 shares worth $1.86M. On Thursday, February 1 Vrohidis Ippocratis sold $56,178 worth of 3M Company (NYSE:MMM) or 225 shares. Bauman James L had sold 2,826 shares worth $700,790. Vale Michael G. had sold 6,243 shares worth $1.54M on Friday, February 2. Keel Paul A had sold 13,480 shares worth $3.33M.

L & S Advisors Inc decreased its stake in 3M Company (MMM) by 32.22% based on its latest 2017Q4 regulatory filing with the SEC. L & S Advisors Inc sold 13,583 shares as the company’s stock declined 8.03% with the market. The institutional investor held 28,570 shares of the medical and dental instruments company at the end of 2017Q4, valued at $6.72 million, down from 42,153 at the end of the previous reported quarter. L & S Advisors Inc who had been investing in 3M Company for a number of months, seems to be less bullish one the $119.07B market cap company. The stock increased 0.86% or $1.71 during the last trading session, reaching $200.56. About 1.43 million shares traded. 3M Company (NYSE:MMM) has risen 13.36% since May 17, 2017 and is uptrending. It has outperformed by 1.81% the S&P500.

L & S Advisors Inc, which manages about $330.44M and $652.53M US Long portfolio, upped its stake in Lam Research Corp (NASDAQ:LRCX) by 22,915 shares to 33,135 shares, valued at $6.10 million in 2017Q4, according to the filing. It also increased its holding in Chevron Corporation (NYSE:CVX) by 35,948 shares in the quarter, for a total of 46,570 shares, and has risen its stake in Texas Instruments Inc (NASDAQ:TXN).

Analysts await 3M Company (NYSE:MMM) to report earnings on July, 24. They expect $2.63 earnings per share, up 1.94 % or $0.05 from last year’s $2.58 per share. MMM’s profit will be $1.56 billion for 19.06 P/E if the $2.63 EPS becomes a reality. After $2.50 actual earnings per share reported by 3M Company for the previous quarter, Wall Street now forecasts 5.20 % EPS growth.

More notable recent 3M Company (NYSE:MMM) news were published by: Seekingalpha.com which released: “Jefferies cautious on 3M amid rate, recession fears” on May 16, 2018, also Investorplace.com with their article: “Resistance Looms Large for 3M Co Stock — Short It!” published on May 11, 2018, Seekingalpha.com published: “3M: Buy On Earnings Dip?” on April 25, 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 247Wallst.com‘s news article titled: “Why 3M Earnings Aren’t Enough” with publication date: April 24, 2018.

3M Company (NYSE:MMM) Ratings Coverage

Among 12 analysts covering 3M Company (NYSE:MMM), 6 have Buy rating, 3 Sell and 3 Hold. Therefore 50% are positive. 3M Company had 28 analyst reports since December 12, 2017 according to SRatingsIntel. On Monday, March 26 the stock rating was maintained by Barclays Capital with “Underweight”. The firm has “Hold” rating given on Thursday, February 15 by Stifel Nicolaus. The rating was maintained by Stifel Nicolaus on Wednesday, December 13 with “Hold”. The stock of 3M Company (NYSE:MMM) earned “Hold” rating by Stifel Nicolaus on Wednesday, April 25. The firm has “Hold” rating given on Tuesday, April 24 by RBC Capital Markets. The stock of 3M Company (NYSE:MMM) earned “Buy” rating by CFRA on Tuesday, April 24. On Wednesday, April 25 the stock rating was maintained by Barclays Capital with “Underweight”. The rating was maintained by JP Morgan on Thursday, April 26 with “Underweight”. The firm earned “Buy” rating on Wednesday, April 25 by Argus Research. The company was maintained on Thursday, April 26 by UBS.

3M Company (NYSE:MMM) Institutional Positions Chart

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