Kennedy Investment Group Trims Holdings in 3M (NYSE:MMM)

Kennedy Investment Group trimmed its position in shares of 3M (NYSE:MMM) by 3.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,674 shares of the conglomerate’s stock after selling 112 shares during the quarter. Kennedy Investment Group’s holdings in 3M were worth $474,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after acquiring an additional 302,900 shares during the last quarter. FMR LLC boosted its holdings in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 3M by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after acquiring an additional 43,942 shares during the last quarter. National Pension Service boosted its holdings in shares of 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after buying an additional 161,036 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after buying an additional 1,250,491 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research reports. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, October 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Finally, Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 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 has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Trading Down 0.1 %

Shares of MMM opened at $151.34 on Wednesday. The company has a market capitalization of $82.42 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.46 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $152.96. 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 stock has a 50-day moving average price of $133.26 and a 200 day moving average price of $129.89.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping 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 business 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 firm earned $2.42 EPS. The business’s quarterly revenue was down 25.0% on a year-over-year basis. Sell-side analysts forecast that 3M will post 7.66 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.85%. 3M’s dividend payout ratio is 37.09%.

Insider Buying and Selling at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the sale, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,291 shares of company stock worth $9,339,786 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

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.