KCM Investment Advisors LLC Decreases Stock Holdings in 3M (NYSE:MMM)

KCM Investment Advisors LLC lowered its stake in 3M (NYSE:MMM - Free Report) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,884 shares of the conglomerate's stock after selling 2,168 shares during the quarter. KCM Investment Advisors LLC's holdings in 3M were worth $2,825,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new position in 3M in the fourth quarter valued at about $25,000. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its holdings in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after buying an additional 214 shares during the last quarter. ORG Partners LLC boosted its position in 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 period. Finally, Catalyst Capital Advisors LLC grew its holdings in 3M by 81.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock worth $47,000 after acquiring an additional 163 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The stock was 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 owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. 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 stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by corporate insiders.

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3M Stock Down 9.4 %

MMM traded down $13.12 during midday trading on Friday, hitting $126.62. The company had a trading volume of 9,608,022 shares, compared to its average volume of 4,099,389. The stock's 50 day moving average price is $149.05 and its 200 day moving average price is $138.58. 3M has a 52 week low of $90.17 and a 52 week high of $156.35. The company has a market capitalization of $68.29 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.30 and a beta of 1.01. 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 (NYSE:MMM - Get Free Report) last issued its 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 business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm's revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.42 EPS. On average, research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 2.31%. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is presently 38.68%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MMM. Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Barclays increased their price target on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and an average price target of $149.13.

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.