3M Co (MMM) Stock Rose While Alethea Capital Management Has Lowered Its Stake; Partners Group Holding Ag Position in Enbridge (ENB) Raised by $11.82 Million as Stock Price Declined

February 12, 2018 - By Adrian Erickson

Alethea Capital Management Llc decreased its stake in 3M Co (MMM) by 50% based on its latest 2017Q3 regulatory filing with the SEC. Alethea Capital Management Llc sold 5,000 shares as the company’s stock rose 7.02% with the market. The institutional investor held 5,000 shares of the medical and dental instruments company at the end of 2017Q3, valued at $1.05 million, down from 10,000 at the end of the previous reported quarter. Alethea Capital Management Llc who had been investing in 3M Co for a number of months, seems to be less bullish one the $136.38B market cap company. The stock increased 1.79% or $4.04 during the last trading session, reaching $229.25. About 1.46 million shares traded. 3M Company (NYSE:MMM) has risen 18.59% since February 12, 2017 and is uptrending. It has outperformed by 1.89% the S&P500.

Partners Group Holding Ag increased its stake in Enbridge Inc (ENB) by 24.22% based on its latest 2017Q3 regulatory filing with the SEC. Partners Group Holding Ag bought 288,250 shares as the company’s stock declined 5.78% while stock markets rallied. The institutional investor held 1.48 million shares of the natural gas distribution company at the end of 2017Q3, valued at $61.51M, up from 1.19 million at the end of the previous reported quarter. Partners Group Holding Ag who had been investing in Enbridge Inc for a number of months, seems to be bullish on the $56.45B market cap company. The stock increased 1.66% or $0.56 during the last trading session, reaching $34.58. About 1.71 million shares traded. Enbridge Inc. (NYSE:ENB) has declined 0.40% since February 12, 2017 and is downtrending. It has underperformed by 17.10% the S&P500.

Among 16 analysts covering 3M (NYSE:MMM), 7 have Buy rating, 3 Sell and 6 Hold. Therefore 44% are positive. 3M had 76 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Market Perform” rating by Bernstein given on Wednesday, March 30. The firm earned “Overweight” rating on Monday, October 24 by Barclays Capital. UBS maintained the stock with “Buy” rating in Wednesday, March 30 report. The company was maintained on Friday, January 26 by Stifel Nicolaus. The rating was maintained by RBC Capital Markets on Tuesday, December 12 with “Hold”. The stock of 3M Company (NYSE:MMM) has “Buy” rating given on Thursday, December 14 by Jefferies. The rating was downgraded by Goldman Sachs to “Sell” on Monday, November 21. Jefferies maintained the stock with “Buy” rating in Friday, May 26 report. The company was maintained on Wednesday, January 3 by RBC Capital Markets. The stock has “Buy” rating by Citigroup on Monday, October 9.

Investors sentiment decreased to 0.77 in 2017 Q3. 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. 12,146 are owned by Leavell Inv Management Inc. 27,432 are held by Congress Asset Mngmt Ma. Ftb Advsrs has 5,299 shares for 0.11% of their portfolio. Conestoga Capital Limited Liability owns 3,194 shares. Union Bankshares Corp has 21,675 shares. Horan Cap Advisors Ltd Company reported 675 shares. Paragon Capital Mngmt Ltd reported 6,651 shares. 274,145 are owned by Brown Advisory. New England Inc holds 6,392 shares. Credit Agricole S A has 600,813 shares. Tortoise Mgmt Llc holds 0.22% or 3,419 shares. Wallace holds 0.04% in 3M Company (NYSE:MMM) or 1,125 shares. Federated Invsts Pa holds 0.01% or 12,465 shares. Virginia Retirement Et Al invested 0.57% in 3M Company (NYSE:MMM). Gulf Bancorp (Uk) accumulated 188,317 shares.

Since August 17, 2017, it had 0 insider purchases, and 22 sales for $34.62 million activity. The insider Hammes Eric D. sold $295,106. Gangestad Nicholas C sold $936,291 worth of stock. Shin Hak Cheol sold 1,900 shares worth $474,944. 6,243 shares valued at $1.54M were sold by Vale Michael G. on Friday, February 2. Bauman James L had sold 8,834 shares worth $2.19M. Lindekugel Jon T sold $92,023 worth of stock.

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