Jefferies Gives 3M (NYSE:MMM) a Lower Rating. Drops its Buy Rating

May 16, 2018 - By Ellis Scott

3M Company (NYSE:MMM) Logo

Investors sentiment increased to 0.83 in Q4 2017. Its up 0.06, from 0.77 in 2017Q3. It increased, as 47 investors sold 3M Company 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.

Moreover, Conestoga Advsr Lc has 0.03% invested in 3M Company (NYSE:MMM) for 3,194 shares. Moreover, Hightower Limited Company has 0.42% invested in 3M Company (NYSE:MMM) for 218,328 shares. Principal Financial Gru, a Iowa-based fund reported 1.20M shares. Mitsubishi Ufj & Corp invested 0.52% in 3M Company (NYSE:MMM). Roof Eidam & Maycock Adv reported 1.44% in 3M Company (NYSE:MMM). Sigma Investment Counselors reported 20,120 shares. Monarch Capital Mgmt Inc invested in 27,046 shares or 2.37% of the stock. Howland Capital Mngmt Ltd Liability Company has invested 2.09% in 3M Company (NYSE:MMM). City holds 1.01% of its portfolio in 3M Company (NYSE:MMM) for 13,572 shares. Millennium Management Ltd Liability Co has 0.04% invested in 3M Company (NYSE:MMM) for 132,780 shares. Saratoga And reported 1.43% of its portfolio in 3M Company (NYSE:MMM). Pictet North America Advisors reported 0.08% stake. Norris Perne French Limited Liability Partnership Mi stated it has 3,962 shares or 0.14% of all its holdings. 46,597 are owned by Loring Wolcott And Coolidge Fiduciary Advsrs Llp Ma. Strategic Advsr Lc holds 1.04% or 10,786 shares.

Since January 31, 2018, it had 0 buys, and 16 selling transactions for $30.99 million activity. Vrohidis Ippocratis also sold $56,178 worth of 3M Company (NYSE:MMM) on Thursday, February 1. $1.54 million worth of 3M Company (NYSE:MMM) was sold by Vale Michael G. on Friday, February 2. 4,146 shares were sold by Roman Michael F, worth $1.02 million. $700,790 worth of 3M Company (NYSE:MMM) shares were sold by Bauman James L. THULIN INGE G also sold $11,102 worth of 3M Company (NYSE:MMM) on Wednesday, January 31. $3.33 million worth of 3M Company (NYSE:MMM) shares were sold by Keel Paul A.

3M (NYSE:MMM) Receives a Downgrade

The old rating for 3M (NYSE:MMM) shares of a Buy has been discontinued, as research analysts at Jefferies lowered the current rating for 3M (NYSE:MMM) shares to a Hold.

3M Company (NYSE:MMM) Ratings Coverage

Among 12 analysts covering 3M Company (NYSE:MMM), 7 have Buy rating, 3 Sell and 2 Hold. Therefore 58% are positive. 3M Company has $28400 highest and $210 lowest target. $237.55’s average target is 18.65% above currents $200.21 stock price. 3M Company had 27 analyst reports since December 12, 2017 according to SRatingsIntel. The company was maintained on Thursday, March 22 by RBC Capital Markets. Stifel Nicolaus maintained the stock with “Hold” rating in Friday, January 26 report. The company was maintained on Wednesday, April 25 by Barclays Capital. CFRA upgraded 3M Company (NYSE:MMM) on Tuesday, April 24 to “Buy” rating. Hilliard Lyons upgraded 3M Company (NYSE:MMM) on Wednesday, January 24 to “Buy” rating. The company was maintained on Tuesday, April 3 by Stifel Nicolaus. Stifel Nicolaus maintained the shares of MMM in report on Wednesday, April 25 with “Hold” rating. Jefferies maintained the stock with “Buy” rating in Thursday, December 14 report. The firm has “Underweight” rating by Barclays Capital given on Monday, March 26. The stock has “Underweight” rating by JP Morgan on Thursday, April 26.

The stock decreased 1.09% or $2.2 during the last trading session, reaching $200.21. About 2.91 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.

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 19.03 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.

3M Company operates as a diversified technology firm worldwide. The company has market cap of $118.86 billion. The companyÂ’s Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; advanced ceramics; sealants; specialty materials; separation and purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products. It has a 25.25 P/E ratio. The Company’s Safety and Graphics Business segment provides personal protection products, traffic safety and security products, commercial graphics systems, commercial cleaning and protection products, floor matting, roofing granules for asphalt shingles, and fall protection products.

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

3M Company (NYSE:MMM) Institutional Positions Chart

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