Kestra Investment Management LLC Has $940,000 Holdings in 3M (NYSE:MMM)

Kestra Investment Management LLC trimmed its stake in 3M (NYSE:MMM - Free Report) by 29.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,285 shares of the conglomerate's stock after selling 2,976 shares during the period. Kestra Investment Management LLC's holdings in 3M were worth $940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Braun Stacey Associates Inc. lifted its stake in shares of 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after buying an additional 22,203 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of 3M by 9.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 33,955 shares of the conglomerate's stock worth $4,383,000 after buying an additional 2,950 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of 3M by 1,436.5% in the fourth quarter. Venturi Wealth Management LLC now owns 5,685 shares of the conglomerate's stock worth $734,000 after buying an additional 5,315 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of 3M by 1.6% in the fourth quarter. CIBC Asset Management Inc now owns 95,753 shares of the conglomerate's stock worth $12,361,000 after buying an additional 1,500 shares during the last quarter. Finally, NTV Asset Management LLC lifted its stake in shares of 3M by 42.3% in the fourth quarter. NTV Asset Management LLC now owns 2,626 shares of the conglomerate's stock worth $339,000 after buying an additional 780 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the business'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 directly owns 4,417 shares of the company's stock, valued at $662,329.15. The trade was a 34.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the business'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 value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MMM shares. JPMorgan Chase & Co. raised their price target on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Bank of America raised their price target on 3M from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company 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. Finally, UBS Group raised 3M from a "neutral" rating to a "buy" rating and increased their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Two research 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 data from MarketBeat, 3M has an average rating of "Moderate Buy" and an average price target of $148.87.

3M Price Performance

NYSE:MMM traded down $4.21 during mid-day trading on Friday, hitting $144.87. The company's stock had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $78.65 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 3.32 and a beta of 0.96. The stock has a fifty day moving average of $140.32 and a 200-day moving average of $134.41.

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

3M Increases Dividend

The company 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. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost 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.