Kingswood Wealth Advisors LLC Cuts Stock Position in 3M (NYSE:MMM)

Kingswood Wealth Advisors LLC trimmed its position in 3M (NYSE:MMM - Free Report) by 57.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,370 shares of the conglomerate's stock after selling 4,624 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in 3M were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. FSA Wealth Management LLC acquired a new stake in shares of 3M during the 3rd quarter worth $27,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after purchasing an additional 121 shares in the last quarter. ORG Partners LLC lifted its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after buying an additional 98 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after buying an additional 296 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $29,918.68. This represents a 90.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MMM. Royal Bank of Canada restated an "underperform" rating and set a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Melius raised 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of 3M in a research note on Saturday, January 18th. Barclays lifted their target price on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $148.87.

3M Price Performance

3M stock traded down $2.07 during midday trading on Monday, hitting $150.13. 3,554,168 shares of the company's stock were exchanged, compared to its average volume of 4,570,215. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The stock has a 50-day moving average price of $135.21 and a two-hundred day moving average price of $131.26. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market cap of $81.76 billion, a P/E ratio of 19.89, a PEG ratio of 3.37 and a beta of 0.96.

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

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, November 15th. 3M's payout ratio is currently 37.09%.

3M 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.