3M (NYSE:MMM) Stock Holdings Increased by Kinloch Capital LLC

Kinloch Capital LLC increased its holdings in shares of 3M (NYSE:MMMFree Report) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,366 shares of the conglomerate’s stock after buying an additional 712 shares during the quarter. Kinloch Capital LLC’s holdings in 3M were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Financial Freedom LLC bought a new position in 3M during the fourth quarter valued at about $25,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of 3M in the 3rd quarter valued at approximately $28,000. Briaud Financial Planning Inc bought a new stake in shares of 3M in the 3rd quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC bought a new stake in shares of 3M in the 3rd quarter valued at approximately $37,000. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in shares of 3M in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

3M Stock Performance

NYSE:MMM traded up $0.08 during trading hours on Thursday, hitting $91.54. 970,380 shares of the stock were exchanged, compared to its average volume of 4,198,858. The company’s 50 day moving average is $100.18 and its two-hundred day moving average is $98.24. 3M has a twelve month low of $85.35 and a twelve month high of $113.14. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMMGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the business earned $2.28 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts predict that 3M will post 9.77 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.51 dividend. The ex-dividend date is Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.60%. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio is -47.82%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MMM shares. Mizuho lowered their price objective on 3M from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Wells Fargo & Company reduced their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Barclays raised 3M from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $98.00 to $107.00 in a report on Monday, December 4th. Royal Bank of Canada boosted their target price on 3M from $83.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, January 24th. Finally, Citigroup reduced their target price on 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $106.00.

Get Our Latest Analysis on 3M

3M Company Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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