Economy

Jefferies Group Equities Analysts Increase Earnings Estimates for 3M Company (MMM)

Fong Ivan K had sold 2,348 shares worth $547,377 on Friday, October 27. The institutional investor held 151,040 shares of the laboratory analytical instruments company at the end of 2017Q2, valued at $4.36M, up from 58,540 at the end of the previous reported quarter. The stock of Facebook, Inc. About 1.95 million shares traded or 81.05% up from the average. (DK) has risen 89.96% since December 18, 2016 and is uptrending. It has outperformed by 19.71% the S&P500.

Patriot Wealth Management Inc decreased 3M Company (MMM) stake by 30.48% reported in 2017Q2 SEC filing. Novare Capital Management Llc sold 1,931 shares as 3M Company (MMM)'s stock rose 7.02%. 3M Co now has $141.76B valuation. The stock had a trading volume of 4,518,734 shares, compared to its average volume of 1,887,194. 3M Company (NYSE:MMM) has risen 18.59% since December 17, 2016 and is uptrending. It has outperformed by 19.71% the S&P500. The stock of 3M Company (NYSE:MMM) earned "Buy" rating by Credit Suisse on Friday, April 28. Therefore 63% are positive. The company was maintained on Saturday, August 22 by Deutsche Bank. The firm has "Hold" rating by Stifel Nicolaus given on Wednesday, December 14. About 11.56 million shares traded or 97.08% up from the average. The stock of TCP Capital Corp. The rating was maintained by Deutsche Bank with "Hold" on Thursday, August 6. The stock has "Buy" rating by Jefferies on Thursday, July 13. The company was downgraded on Tuesday, August 25 by Zacks. The firm earned "Hold" rating on Monday, July 10 by RBC Capital Markets. On Sunday, July 23 the stock rating was maintained by Keefe Bruyette & Woods with "Buy".

Investors sentiment increased to 1.48 in 2017 Q2. Its up 1.08, from 1.13 in 2017Q1. 31 funds opened positions while 60 raised stakes. Evanson Asset Mgmt Limited Liability Company invested in 0.05% or 1,169 shares. Highland Cap Management Limited Liability Corporation holds 18,680 shares. 256.53 million shares or 1.25% less from 259.78 million shares in 2017Q1 were reported. (NASDAQ:TCPC). 106,729 were reported by Pioneer Mngmt. Smith Moore, Missouri-based fund reported 1,340 shares. Hbk Sorce Advisory Ltd Liability reported 7,964 shares stake. Morgan Stanley has invested 0% of its portfolio in Rexnord Corporation (NYSE:RXN). Harfst & Associates Inc. now owns 688 shares of the conglomerate's stock worth $143,000 after purchasing an additional 100 shares during the period. Eminence Capital Lp who had been investing in Rexnord Corp New for a number of months, seems to be bullish on the $2.53 billion market cap company. (NASDAQ:TCPC). Sei has invested 0% in TCP Capital Corp.

Analysts await TC PipeLines, LP (NYSE:TCP) to report earnings on February, 26. MMM's profit will be $1.19B for 29.75 P/E if the $2.00 EPS becomes a reality. Saratoga Research Invest reported 96,102 shares stake.

Since August 11, 2017, it had 0 buys, and 8 selling transactions for $5.40 million activity. Insiders sold 22,804 shares of company stock worth $5,303,706 over the last ninety days. Mitsubishi Ufj Secs Holdg has invested 0.84% of its portfolio in 3M Company (NYSE:MMM).

In related news, CFO Nicholas C. Gangestad sold 4,004 shares of the stock in a transaction that occurred on Friday, October 27th. $295,106 worth of stock was sold by Hammes Eric D. on Thursday, August 17. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Therefore 47% are positive.

Stock analysts at William Blair increased their FY2017 earnings per share estimates for 3M in a research report issued to clients and investors on Wednesday.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Goldman Sachs upgraded 3M Company (NYSE:MMM) rating on Wednesday, October 25. On Wednesday, August 10 the stock rating was upgraded by Bernstein to "Outperform". Credit Suisse has "Buy" rating and $237.0 target. Citigroup reiterated a "buy" rating and issued a $250.00 target price (up from $228.00) on shares of 3M in a report on Monday, October 9th. Stifel Nicolaus has "Hold" rating and $245.0 target. The firm has "Buy" rating given on Wednesday, March 30 by UBS. Citigroup maintained the shares of MMM in report on Monday, October 9 with "Buy" rating. The firm earned "Buy" rating on Tuesday, June 6 by Bank of America. Citigroup maintained 3M Company (NYSE:MMM) rating on Monday, October 9. Center Coast Capital Advisors Lp owns 3.78 million shares or 5.3% of their U.S. portfolio. Tarbox Family Office accumulated 3,324 shares. Its down 0.14, from 0.91 in 2017Q1. It increased, as 45 investors sold MMM shares while 589 reduced holdings. 131 funds opened positions while 449 raised stakes. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $2.21 by $0.12. Ronna Sue Cohen stated it has 11,301 shares or 1.74% of all its holdings. Paloma Prtn Management Communications accumulated 50,403 shares.

3M Company (MMM) has demonstrated a 20-day simple moving average (SMA) of 0.96%, and a 50-day SMA of 3.81%. Natixis holds 0.16% or 67,110 shares in its portfolio. Sarasin And Ptnrs Limited Liability Partnership reported 638,810 shares. Affinity Investment Advisors LLC acquired a new stake in shares of 3M during the first quarter worth $351,000.

Argyll Research Llc holds 20.91% of its portfolio in TC PipeLines, LP for 1.69 million shares. The insider Keel Paul A sold 4,965 shares worth $1.02M. Boltwood Capital stated it has 0.4% in 3M Company (NYSE:MMM). North Carolina-based Captrust Fincl Advsr has invested 0.07% in 3M Company (NYSE:MMM). Rathbone Brothers Plc holds 0.02% of its portfolio in General Dynamics Corporation (NYSE:GD) for 2,398 shares. Following the sale, the chief financial officer now owns 25,805 shares in the company, valued at $6,034,241.20. Tokio Marine Asset Mgmt Company Limited accumulated 32,160 shares or 0.96% of the stock.

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