Hightower Advisors LLC Upped Its 3M Co (MMM) Holding by $45.49 Million as Stock Value Rose

December 7, 2017 - By Maria Brooks

Investors sentiment increased to 0.91 in Q2 2017. Its up 0.10, from 0.81 in 2017Q1. It increased, as 45 investors sold MMM shares while 589 reduced holdings. 131 funds opened positions while 449 raised stakes. 387.02 million shares or 0.60% more from 384.71 million shares in 2017Q1 were reported. Cleararc Cap Inc accumulated 15,367 shares or 0.52% of the stock. Perkins Coie Tru Company has 30,279 shares. Broderick Brian C invested 3.7% in 3M Company (NYSE:MMM). Finemark Bancshares And accumulated 0.74% or 49,393 shares. Clear Harbor Asset Mgmt Lc has invested 0.14% in 3M Company (NYSE:MMM). Crossvault Capital Ltd Limited Liability Company invested 0.21% in 3M Company (NYSE:MMM). Halsey Assocs Ct holds 6,785 shares. First Eagle Invest Mgmt Ltd Llc reported 2.26% in 3M Company (NYSE:MMM). Patten And Patten Incorporated Tn holds 1.46% or 63,296 shares in its portfolio. Hightower Advisors Lc reported 220,582 shares or 0.4% of all its holdings. Wagner Bowman invested in 17,064 shares or 1% of the stock. Pennsylvania Tru reported 138,296 shares or 1.42% of all its holdings. Hendershot, Virginia-based fund reported 11,936 shares. Liberty Mngmt reported 2,475 shares stake. 34,736 are held by Keating Inv Counselors.

Hightower Advisors Llc increased its stake in 3M Co (MMM) by 27472.75% based on its latest 2017Q2 regulatory filing with the SEC. Hightower Advisors Llc bought 219,782 shares as the company’s stock rose 7.02% with the market. The institutional investor held 220,582 shares of the medical and dental instruments company at the end of 2017Q2, valued at $45.87 million, up from 800 at the end of the previous reported quarter. Hightower Advisors Llc who had been investing in 3M Co for a number of months, seems to be bullish on the $143.13 billion market cap company. The stock increased 0.68% or $1.63 during the last trading session, reaching $240.3. About 1.37 million shares traded. 3M Company (NYSE:MMM) has risen 18.59% since December 7, 2016 and is uptrending. It has outperformed by 1.89% the S&P500.

Hightower Advisors Llc, which manages about $15.08 billion and $11.55 billion US Long portfolio, decreased its stake in Southern Co (NYSE:SO) by 103,226 shares to 417,437 shares, valued at $19.98M in 2017Q2, according to the filing. It also reduced its holding in Spdr Ser Tr (SST) by 474,995 shares in the quarter, leaving it with 235,943 shares, and cut its stake in Applied Matls Inc (NASDAQ:AMAT).

More notable recent 3M Company (NYSE:MMM) news were published by: Streetinsider.com which released: “3M Co. (MMM) Reports Patent Infringement Lawsuit to Protect Dental Restorative …” on December 04, 2017, also Startribune.com with their article: “3M sues Kerr Corp. alleging dental-patent infringement” published on December 04, 2017, Bloomberg.com published: “3M Faces New Cancer Claims in Minnesota’s $5 Billion Lawsuit” on November 20, 2017. More interesting news about 3M Company (NYSE:MMM) were released by: Bizjournals.com and their article: “Drucker Institute ranks 3M among best-managed US companies (Slideshow)” published on December 07, 2017 as well as Startribune.com‘s news article titled: “3M gives $8 million more to University of Minnesota Driven Campaign” with publication date: December 05, 2017.

3M Company (NYSE:MMM) Ratings Coverage

Among 14 analysts covering 3M (NYSE:MMM), 7 have Buy rating, 2 Sell and 5 Hold. Therefore 50% are positive. 3M had 65 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, October 25 by Argus Research. The stock has “Underweight” rating by Morgan Stanley on Monday, October 2. The rating was maintained by Bernstein with “Market Perform” on Wednesday, March 30. The rating was maintained by Credit Suisse with “Buy” on Wednesday, October 11. As per Wednesday, March 30, the company rating was maintained by Morgan Stanley. Credit Suisse maintained it with “Outperform” rating and $175 target in Tuesday, March 15 report. Citigroup maintained the shares of MMM in report on Monday, October 9 with “Buy” rating. The rating was maintained by RBC Capital Markets on Wednesday, October 26 with “Underperform”. The rating was maintained by Jefferies on Tuesday, September 26 with “Buy”. The firm earned “Hold” rating on Wednesday, October 25 by Stifel Nicolaus.

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