Cullen Capital Management LLC Lowered 3M Co. (MMM) Holding by $3.68 Million

July 17, 2017 - By Marguerite Chambers

Investors sentiment increased to 0.86 in 2016 Q4. Its up 0.08, from 0.78 in 2016Q3. It improved, as 67 investors sold MMM shares while 592 reduced holdings. 100 funds opened positions while 464 raised stakes. 383.70 million shares or 2.52% more from 374.26 million shares in 2016Q3 were reported. West Virginia-based United Commercial Bank has invested 0.64% in 3M Co (NYSE:MMM). Provise Group Ltd Co has 2,684 shares for 0.08% of their portfolio. City Hldgs holds 0.88% of its portfolio in 3M Co (NYSE:MMM) for 12,733 shares. Richard Bernstein Advisors Lc invested in 43,201 shares. Rockefeller Financial Svcs Incorporated invested in 12,005 shares. Whitnell invested 0.6% in 3M Co (NYSE:MMM). Savings Bank Of Hawaii accumulated 26,920 shares. Fifth Third Financial Bank owns 422,223 shares for 0.62% of their portfolio. Keystone Fincl Planning Inc has invested 0.2% of its portfolio in 3M Co (NYSE:MMM). Ramsay Stattman Vela And Price reported 41,168 shares stake. Ashford Cap Management has 0.07% invested in 3M Co (NYSE:MMM) for 2,077 shares. 18,127 are held by Bkd Wealth Advsr Limited Liability Company. Palisade Asset Management Lc holds 67,790 shares or 2.32% of its portfolio. Pnc Services Gp Incorporated has invested 0.71% in 3M Co (NYSE:MMM). State Of Alaska Department Of Revenue accumulated 41,835 shares.

Since February 8, 2017, it had 0 buys, and 14 sales for $30.89 million activity. 47,528 shares valued at $8.41M were sold by Shin Hak Cheol on Wednesday, February 8. The insider Vale Michael G. sold $1.90 million. $256,388 worth of stock was sold by Lindekugel Jon T on Wednesday, May 3. 3,393 shares valued at $613,250 were sold by Ashish Khandpur K on Monday, February 13. Another trade for 2,888 shares valued at $523,613 was sold by Gangestad Nicholas C. $1.41M worth of 3M Co (NYSE:MMM) was sold by THULIN INGE G. Delgado Joaquin sold 11,609 shares worth $2.11M.

Cullen Capital Management Llc decreased its stake in 3M Co. (MMM) by 4.14% based on its latest 2016Q4 regulatory filing with the SEC. Cullen Capital Management Llc sold 20,675 shares as the company’s stock rose 7.02% with the market. The institutional investor held 478,835 shares of the medical and dental instruments company at the end of 2016Q4, valued at $85.51 million, down from 499,510 at the end of the previous reported quarter. Cullen Capital Management Llc who had been investing in 3M Co. for a number of months, seems to be less bullish one the $126.94B market cap company. The stock rose 0.05% or $0.1 reaching $211.87. About 783,486 shares traded. 3M Co (NYSE:MMM) has risen 18.59% since July 17, 2016 and is uptrending. It has outperformed by 1.89% the S&P500.

Cullen Capital Management Llc, which manages about $3.87 billion and $2.90 billion US Long portfolio, upped its stake in Bce Inc. (NYSE:BCE) by 976,600 shares to 1.67 million shares, valued at $72.42 million in 2016Q4, according to the filing. It also increased its holding in Johnson Controls International by 523,101 shares in the quarter, for a total of 1.04 million shares, and has risen its stake in Conocophillips (NYSE:COP).

Analysts await 3M Co (NYSE:MMM) to report earnings on July, 25. They expect $2.44 EPS, up 17.31 % or $0.36 from last year’s $2.08 per share. MMM’s profit will be $1.46B for 21.71 P/E if the $2.44 EPS becomes a reality. After $2.16 actual EPS reported by 3M Co for the previous quarter, Wall Street now forecasts 12.96 % EPS growth.

More notable recent 3M Co (NYSE:MMM) news were published by: Gurufocus.com which released: “Grubman Wealth Management Buys Costco Wholesale Corp, 3M Co, Abeona …” on July 10, 2017, also Startribune.com with their article: “Michael Roman takes 3M’s top operating role, becoming potential successor to CEO” published on June 20, 2017, Cincinnati.com published: “Former 3M Co. site in Milford marketed as ‘business center'” on June 29, 2017. More interesting news about 3M Co (NYSE:MMM) were released by: Bizjournals.com and their article: “Austin real estate investment firm buys large 3M campus” published on June 28, 2017 as well as Nasdaq.com‘s news article titled: “Trust Co Of Toledo Na Buys AT&T Inc, 3M Co, Union Pacific Corp, Sells Kohl’s …” with publication date: July 13, 2017.

3M Co (NYSE:MMM) Ratings Coverage

Among 12 analysts covering 3M (NYSE:MMM), 6 have Buy rating, 2 Sell and 4 Hold. Therefore 50% are positive. 3M had 46 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Wednesday, December 14 by Stifel Nicolaus. The firm earned “Buy” rating on Friday, May 26 by Jefferies. Barclays Capital upgraded 3M Co (NYSE:MMM) on Monday, October 24 to “Overweight” rating. The firm has “Hold” rating given on Wednesday, April 26 by Stifel Nicolaus. The firm has “Buy” rating by Jefferies given on Thursday, July 13. The firm has “Buy” rating by Citigroup given on Tuesday, April 19. UBS maintained 3M Co (NYSE:MMM) on Wednesday, March 30 with “Buy” rating. As per Monday, October 5, the company rating was maintained by Barclays Capital. On Tuesday, August 4 the stock rating was maintained by RBC Capital Markets with “Underperform”. Credit Suisse upgraded the stock to “Outperform” rating in Friday, September 25 report.

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