Kentucky Retirement Systems Insurance Trust Fund Has $3.18 Million Stock Position in 3M (NYSE:MMM)

Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of 3M (NYSE:MMM - Free Report) by 39.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,650 shares of the conglomerate's stock after buying an additional 6,385 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in 3M were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MMM. Financial Life Planners bought a new stake in shares of 3M during the 4th quarter worth about $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M during the 3rd quarter worth about $27,000. McClarren Financial Advisors Inc. boosted its stake 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 acquiring an additional 121 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after acquiring an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC boosted its stake 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 acquiring an additional 98 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Victoria Clarke sold 1,750 shares of the firm'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 in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now owns 4,417 shares of the company's stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 in the last 90 days. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MMM. Royal Bank of Canada reiterated an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of 3M in a research report on Wednesday. Bank of America boosted their price objective on 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Finally, UBS Group raised 3M from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, 3M presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.87.

3M Stock Performance

3M stock traded down $4.21 during trading hours on Friday, hitting $144.87. The stock had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. The company has a 50-day moving average of $140.62 and a two-hundred day moving average of $134.56. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company has a market cap of $78.65 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 3.32 and a beta of 0.96. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00.

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. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M's revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the company earned $2.42 EPS. On average, equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is 38.68%.

About 3M

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.