Kahn Brothers Group Has Trimmed Position in Exxon Mobile (XOM) by $8.07 Million; Alley Company Raised 3M Co (MMM) Holding by $2.13 Million; Share Price Rose

December 8, 2017 - By Nellie Frank

Irving Kahn decreased its stake in Exxon Mobile (XOM) by 0.58% based on its latest 2017Q2 regulatory filing with the SEC. Kahn Brothers Group Inc sold 100 shares as the company’s stock rose 0.21% with the market. The hedge fund run by Irving Kahn held 17,234 shares of the integrated oil company at the end of 2017Q2, valued at $1.39B, down from 17,334 at the end of the previous reported quarter. Kahn Brothers Group Inc who had been investing in Exxon Mobile for a number of months, seems to be less bullish one the $349.77 billion market cap company. The stock increased 0.33% or $0.27 during the last trading session, reaching $82.55. About 11.36M shares traded or 22.72% up from the average. Exxon Mobil Corporation (NYSE:XOM) has declined 9.08% since December 8, 2016 and is downtrending. It has underperformed by 25.78% the S&P500.

Alley Company Llc increased its stake in 3M Co (MMM) by 84.06% based on its latest 2017Q2 regulatory filing with the SEC. Alley Company Llc bought 10,259 shares as the company’s stock rose 7.02% with the market. The institutional investor held 22,463 shares of the medical and dental instruments company at the end of 2017Q2, valued at $4.68 million, up from 12,204 at the end of the previous reported quarter. Alley Company 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 8, 2016 and is uptrending. It has outperformed by 1.89% the S&P500.

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 stock of 3M Company (NYSE:MMM) earned “Buy” rating by Jefferies on Monday, August 14. The firm has “Hold” rating given on Wednesday, April 26 by Stifel Nicolaus. The company was maintained on Tuesday, March 15 by Credit Suisse. On Monday, October 24 the stock rating was upgraded by Barclays Capital to “Overweight”. The stock of 3M Company (NYSE:MMM) earned “Outperform” rating by Credit Suisse on Friday, September 25. The firm earned “Buy” rating on Monday, May 29 by Jefferies. The firm has “Hold” rating given on Wednesday, July 19 by Stifel Nicolaus. As per Monday, October 2, the company rating was maintained by Morgan Stanley. The stock of 3M Company (NYSE:MMM) has “Sell” rating given on Monday, November 21 by Goldman Sachs. Citigroup maintained the stock with “Buy” rating in Tuesday, April 19 report.

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 Bizjournals.com with their article: “Drucker Institute ranks 3M among best-managed US companies (Slideshow)” published on December 07, 2017, Seekingalpha.com published: “Dividend Aristocrats In Focus, Part 41: 3M” on November 16, 2017. More interesting news about 3M Company (NYSE:MMM) were released by: Startribune.com and their article: “3M gives $8 million more to University of Minnesota Driven Campaign” published on December 05, 2017 as well as Startribune.com‘s news article titled: “3M sues Kerr Corp. alleging dental-patent infringement” with publication date: December 04, 2017.

Investors sentiment increased to 0.91 in Q2 2017. Its up 0.10, from 0.81 in 2017Q1. It improved, 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. Norman Fields Gottscho Cap Ltd Limited Liability Company reported 2,400 shares. Parametrica Mgmt Limited invested in 0.24% or 1,222 shares. Princeton Strategies Gru Limited Liability Corporation invested 0.42% in 3M Company (NYSE:MMM). 188,762 were reported by Shell Asset. Eagle Ridge Investment Mngmt holds 1.5% or 48,991 shares. Palisades Hudson Asset Mngmt Lp accumulated 1,571 shares. Fayerweather Charles reported 17,481 shares. Rothschild Corporation Il holds 0.39% or 16,343 shares. 3,249 were accumulated by Adirondack Trust. Alpha Windward Ltd Company owns 1,245 shares. Punch And Associate Investment Mgmt holds 0.34% or 17,326 shares. Sawgrass Asset Mngmt Ltd Liability Corporation has 1.42% invested in 3M Company (NYSE:MMM) for 150,627 shares. Mountain Pacific Advisers Incorporated Id invested in 9,678 shares. Richard Bernstein Advsrs holds 43,201 shares or 0.69% of its portfolio. Vaughan David Invs Il holds 1.45% or 138,657 shares.

Investors sentiment decreased to 0.85 in 2017 Q2. Its down 0.04, from 0.89 in 2017Q1. It worsened, as 48 investors sold XOM shares while 822 reduced holdings. 103 funds opened positions while 639 raised stakes. 2.12 billion shares or 0.55% more from 2.10 billion shares in 2017Q1 were reported. Eagle Glob Advisors Llc holds 0.33% in Exxon Mobil Corporation (NYSE:XOM) or 141,332 shares. Standard Life Invests has 0.08% invested in Exxon Mobil Corporation (NYSE:XOM). Mathes Inc invested in 0.41% or 10,595 shares. Peddock Ltd Llc holds 34.56% or 806,245 shares. Meyer Handelman Co holds 1.88% or 552,113 shares in its portfolio. Eagle Asset Management Inc invested in 0.03% or 70,394 shares. Armstrong Henry H Assoc Inc reported 0.72% in Exxon Mobil Corporation (NYSE:XOM). Whittier Tru Company has 341,760 shares. Signature Fincl holds 29,759 shares. Cim Ltd Liability Com stated it has 0.19% of its portfolio in Exxon Mobil Corporation (NYSE:XOM). Rowland Com Inv Counsel Adv reported 76,938 shares or 0% of all its holdings. Arcadia Management Mi, Michigan-based fund reported 7,235 shares. Signaturefd Limited Liability Com reported 52,472 shares or 0.62% of all its holdings. Northcoast Asset Ltd Company invested 0.34% in Exxon Mobil Corporation (NYSE:XOM). Atlantic Grp Incorporated Ltd Liability Co accumulated 779,647 shares or 0.4% of the stock.

More notable recent Exxon Mobil Corporation (NYSE:XOM) news were published by: Seekingalpha.com which released: “Exxon Mobil: Debunking The Chemical Drag” on November 15, 2017, also Fool.com with their article: “Why ExxonMobil Corporation’s Dividend Isn’t Safe” published on December 01, 2017, Reuters.com published: “Exxon takes climate-change probe fight to Massachusetts top court” on December 05, 2017. More interesting news about Exxon Mobil Corporation (NYSE:XOM) were released by: Reuters.com and their article: “Exxon merging oil refining and marketing units” published on December 01, 2017 as well as Theguardian.com‘s news article titled: “ExxonMobil Australia ‘failed to disclose links to Bahamas and Netherlands'” with publication date: December 07, 2017.

Analysts await Exxon Mobil Corporation (NYSE:XOM) to report earnings on January, 30. They expect $0.99 EPS, up 10.00% or $0.09 from last year’s $0.9 per share. XOM’s profit will be $4.19B for 20.85 P/E if the $0.99 EPS becomes a reality. After $0.93 actual EPS reported by Exxon Mobil Corporation for the previous quarter, Wall Street now forecasts 6.45% EPS growth.

Kahn Brothers Group Inc, which manages about $655.75M US Long portfolio, upped its stake in Assured Guaranty (NYSE:AGO) by 391,575 shares to 776,705 shares, valued at $32.42 billion in 2017Q2, according to the filing. It also increased its holding in Glaxosmithkline (NYSE:GSK) by 4,090 shares in the quarter, for a total of 1.06 million shares, and has risen its stake in Mbia (NYSE:MBI).

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