Kelman Lazarov Inc. Invests $243,000 in 3M (NYSE:MMM)

Kelman Lazarov Inc. bought a new stake in 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,880 shares of the conglomerate's stock, valued at approximately $243,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in 3M in the 4th quarter valued at about $636,767,000. Invesco Ltd. increased its stake in shares of 3M by 51.6% in the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock worth $576,845,000 after purchasing an additional 1,520,619 shares in the last quarter. Amundi raised its position in shares of 3M by 55.7% in the fourth quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock valued at $337,815,000 after purchasing an additional 898,244 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of 3M by 321.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,097,747 shares of the conglomerate's stock valued at $141,708,000 after buying an additional 837,226 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in 3M in the 4th quarter worth approximately $103,788,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Buying and Selling

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 over the last quarter. 0.34% of the stock is owned by company insiders.

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3M Trading Down 0.1 %

Shares of NYSE MMM traded down $0.10 during midday trading on Monday, reaching $135.85. The company had a trading volume of 1,589,032 shares, compared to its average volume of 4,126,197. The firm's fifty day moving average price is $146.37 and its 200-day moving average price is $138.39. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a one year low of $90.17 and a one year high of $156.35. The stock has a market cap of $73.27 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm's revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 EPS. On average, equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.15%. 3M's payout ratio is 38.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Barclays reduced their target price on 3M from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Tuesday, April 8th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Citigroup boosted their price target on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.13.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.