The Cincinnati Financial Corp Has $33,307,000 Position in 3M Co. (MMM)

The Cincinnati Financial Corp Has $33,307,000 Position in 3M Co. (MMM)

Cincinnati Financial Corp held its stake in 3M Co. (NYSE:MMM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 189,000 shares of the company’s stock at the end of the third quarter. 3M makes up 1.8% of Cincinnati Financial Corp’s investment portfolio, making the stock its 24th largest position. Cincinnati Financial Corp’s holdings in 3M were worth $33,307,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Bahl & Gaynor Inc. raised its stake in 3M by 11.1% in the third quarter. Bahl & Gaynor Inc. now owns 1,228,393 shares of the company’s stock valued at $216,479,000 after buying an additional 123,099 shares in the last quarter. First National Bank Sioux Falls raised its stake in 3M by 14.4% in the third quarter. First National Bank Sioux Falls now owns 1,588 shares of the company’s stock worth $280,000 after buying an additional 200 shares during the last quarter. Pictet & Cie Europe SA raised its stake in 3M by 72.9% in the third quarter. Pictet & Cie Europe SA now owns 16,004 shares of the company’s stock worth $2,820,000 after buying an additional 6,750 shares during the last quarter. Progressive Investment Management Corp raised its stake in 3M by 23.8% in the third quarter. Progressive Investment Management Corp now owns 22,143 shares of the company’s stock worth $3,902,000 after buying an additional 4,263 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in 3M by 0.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 267,093 shares of the company’s stock worth $47,070,000 after buying an additional 2,318 shares during the last quarter. 63.25% of the stock is owned by institutional investors and hedge funds.

Shares of 3M Co. (NYSE:MMM) opened at 178.49 on Thursday. The stock has a 50 day moving average price of $177.00 and a 200 day moving average price of $175.77. 3M Co. has a 12 month low of $136.15 and a 12 month high of $182.27. The firm has a market capitalization of $107.36 billion, a P/E ratio of 22.51 and a beta of 1.05.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 25th. The company reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.01. The firm earned $7.70 billion during the quarter, compared to analyst estimates of $7.72 billion. 3M had a net margin of 16.40% and a return on equity of 42.27%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. On average, analysts expect that 3M Co. will post $8.15 earnings per share for the current year.

A number of research firms have recently issued reports on MMM. RBC Capital Markets set a $176.00 target price on 3M and gave the company a “hold” rating in a report on Wednesday, January 4th. Vetr lowered 3M from a “hold” rating to a “sell” rating and set a $171.00 target price for the company. in a report on Thursday, December 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of 3M in a report on Thursday, December 15th. Jefferies Group restated a “buy” rating and issued a $200.00 target price on shares of 3M in a report on Wednesday, December 14th. Finally, Stifel Nicolaus increased their target price on 3M from $175.00 to $186.00 and gave the company a “hold” rating in a report on Wednesday, December 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $174.50.

In related news, insider Julie L. Bushman sold 10,771 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $166.71, for a total value of $1,795,633.41. Following the completion of the transaction, the insider now directly owns 34,093 shares of the company’s stock, valued at approximately $5,683,644.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric D. Hammes sold 504 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $173.69, for a total transaction of $87,539.76. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

About 3M

3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.

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