KKM Financial LLC Purchases 1,003 Shares of 3M (NYSE:MMM)

KKM Financial LLC raised its holdings in shares of 3M (NYSE:MMM) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,802 shares of the conglomerate’s stock after acquiring an additional 1,003 shares during the period. KKM Financial LLC’s holdings in 3M were worth $2,427,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Financial Life Planners bought a new position in shares of 3M during the 4th quarter valued at $25,000. Proficio Capital Partners LLC purchased a new stake in 3M during the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M during the fourth quarter valued at about $27,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 214 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Price Performance

Shares of MMM stock opened at $142.25 on Friday. 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 stock has a market cap of $76.56 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.30 and a beta of 1.02. The business’s fifty day moving average is $141.31 and its 200 day moving average is $138.61. 3M has a twelve month low of $96.76 and a twelve month high of $156.35.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. Research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MMM shares. JPMorgan Chase & Co. decreased their price target on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Saturday. Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Finally, Citigroup dropped their target price on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average target price of $149.29.

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.