Sentinel Asset Management INC Lifted Its 3M Co. (MMM) Position by $18.13 Million as Stock Value Rose

February 23, 2018 - By Dolores Ford

Investors sentiment decreased to 0.77 in Q3 2017. Its down 0.14, from 0.91 in 2017Q2. It dived, as 59 investors sold MMM shares while 612 reduced holdings. 101 funds opened positions while 417 raised stakes. 387.06 million shares or 0.01% more from 387.02 million shares in 2017Q2 were reported. Acg Wealth reported 254,655 shares stake. Glenmede Trust Na invested in 636,198 shares. Barrett Asset Mgmt Ltd Limited Liability Company stated it has 165,981 shares or 2.54% of all its holdings. State Of Alaska Department Of Revenue reported 0.63% in 3M Company (NYSE:MMM). First Tru L P, a Illinois-based fund reported 187,552 shares. Goldman Sachs Grp holds 0.15% in 3M Company (NYSE:MMM) or 2.91M shares. 2,658 are owned by Green Square Capital Lc. Chilton Inv Ltd Liability reported 41,516 shares. Srb owns 0.02% invested in 3M Company (NYSE:MMM) for 836 shares. The Washington-based Perkins Coie Trust has invested 3.29% in 3M Company (NYSE:MMM). Glenview Bancshares Trust Dept stated it has 6,052 shares. Fiduciary Trust accumulated 126,120 shares or 0.81% of the stock. Boston Limited Liability Company reported 8,494 shares. Punch & Associates Mgmt holds 16,167 shares. Personal Capital Advsrs Corporation has 0.68% invested in 3M Company (NYSE:MMM).

Since October 27, 2017, it had 0 insider purchases, and 20 sales for $33.77 million activity. On Wednesday, January 31 THULIN INGE G sold $1.37 million worth of 3M Company (NYSE:MMM) or 5,438 shares. 4,146 shares valued at $1.02 million were sold by Roman Michael F on Friday, February 2. Another trade for 1,500 shares valued at $351,708 was made by Little Frank R Jr. on Friday, October 27. Another trade for 6,799 shares valued at $1.68M was made by Shin Hak Cheol on Thursday, February 1. The insider Fong Ivan K sold $547,377. Gangestad Nicholas C also sold $936,291 worth of 3M Company (NYSE:MMM) shares.

Sentinel Asset Management Inc increased its stake in 3M Co. (MMM) by 346.9% based on its latest 2017Q3 regulatory filing with the SEC. Sentinel Asset Management Inc bought 86,725 shares as the company’s stock rose 7.02% with the market. The institutional investor held 111,725 shares of the medical and dental instruments company at the end of 2017Q3, valued at $23.45M, up from 25,000 at the end of the previous reported quarter. Sentinel Asset Management Inc who had been investing in 3M Co. for a number of months, seems to be bullish on the $140.18 billion market cap company. The stock decreased 0.26% or $0.61 during the last trading session, reaching $235.39. About 892,441 shares traded. 3M Company (NYSE:MMM) has risen 18.59% since February 23, 2017 and is uptrending. It has outperformed by 1.89% the S&P500.

Sentinel Asset Management Inc, which manages about $4.18 billion US Long portfolio, decreased its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 301,200 shares to 1.34M shares, valued at $45.09M in 2017Q3, according to the filing. It also reduced its holding in Bottomline Technologies (De) (NASDAQ:EPAY) by 113,230 shares in the quarter, leaving it with 440,321 shares, and cut its stake in Mcdonald’s Corp. (NYSE:MCD).

More notable recent 3M Company (NYSE:MMM) news were published by: Nasdaq.com which released: “3M Co. Q4 Earnings Advance” on January 25, 2018, also Fool.com with their article: “3M Company Is Growing at a Faster Pace Than You Think” published on January 26, 2018, Bizjournals.com published: “3M could use $850 million settlement as big tax break” on February 23, 2018. More interesting news about 3M Company (NYSE:MMM) were released by: Startribune.com and their article: “3M asks for delay in trial over pollution in Washington County” published on February 08, 2018 as well as Twincities.com‘s news article titled: “The rush is on: Cities line up for shares of 3M’s $850 million settlement” with publication date: February 22, 2018.

3M Company (NYSE:MMM) Ratings Coverage

Among 16 analysts covering 3M (NYSE:MMM), 7 have Buy rating, 4 Sell and 5 Hold. Therefore 44% are positive. 3M had 79 analyst reports since July 24, 2015 according to SRatingsIntel. Argus Research maintained 3M Company (NYSE:MMM) on Wednesday, October 25 with “Buy” rating. UBS maintained it with “Buy” rating and $175 target in Wednesday, December 16 report. The company was maintained on Tuesday, August 25 by Deutsche Bank. The stock has “Underperform” rating by RBC Capital Markets on Friday, October 23. Morgan Stanley maintained the stock with “Underweight” rating in Wednesday, March 30 report. The firm earned “Hold” rating on Wednesday, January 3 by RBC Capital Markets. The stock of 3M Company (NYSE:MMM) has “Underperform” rating given on Tuesday, August 4 by RBC Capital Markets. JP Morgan downgraded the shares of MMM in report on Wednesday, September 20 to “Underweight” rating. The rating was maintained by Stifel Nicolaus on Thursday, February 15 with “Hold”. Stifel Nicolaus maintained the stock with “Hold” rating in Friday, January 26 report.

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