KCM Investment Advisors LLC Sells 2,168 Shares of 3M (NYSE:MMM)

KCM Investment Advisors LLC decreased its position in 3M (NYSE:MMM) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new stake in 3M in the 4th quarter worth about $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M during the fourth quarter valued at approximately $27,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 9.0% during the fourth 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 during the period. Finally, Meeder Asset Management Inc. boosted its position in 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

NYSE MMM opened at $126.62 on Friday. The company’s 50 day simple moving average is $149.05 and its two-hundred day simple moving average is $138.55. The stock has a market capitalization of $68.29 billion, a PE ratio of 16.77, a P/E/G ratio of 3.30 and a beta of 0.97. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1 year low of $90.17 and a 1 year high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the company earned $2.42 earnings per share. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. Analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

Insider Transactions at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s 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 transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the executive vice president now owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last quarter. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MMM shares. Citigroup lifted their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America boosted their target price 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. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Saturday, March 22nd. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, 3M presently has an average 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.