KCM Investment Advisors LLC Has $2.52 Million Position in 3M (NYSE:MMM)

KCM Investment Advisors LLC lowered its stake in shares of 3M (NYSE:MMM) by 9.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,639 shares of the conglomerate’s stock after selling 2,667 shares during the period. KCM Investment Advisors LLC’s holdings in 3M were worth $2,518,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MMM. Norges Bank bought a new stake in 3M in the fourth quarter valued at about $502,585,000. Balyasny Asset Management L.P. grew its stake in 3M by 313.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock worth $289,803,000 after buying an additional 2,010,319 shares during the last quarter. Capital World Investors bought a new stake in 3M during the first quarter worth about $165,986,000. Los Angeles Capital Management LLC grew its stake in 3M by 157.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock worth $197,377,000 after buying an additional 1,103,459 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in 3M by 218.3% during the first quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after buying an additional 1,021,440 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M Stock Performance

Shares of MMM stock opened at $134.69 on Friday. The stock has a market cap of $74.53 billion, a P/E ratio of -10.59, a P/E/G ratio of 2.34 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The company has a fifty day moving average price of $114.92 and a two-hundred day moving average price of $103.34. 3M has a one year low of $71.12 and a one year high of $134.99.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter last year, the company posted $2.17 earnings per share. As a group, equities analysts predict that 3M will post 7.21 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, August 26th. 3M’s dividend payout ratio is presently -22.01%.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of research reports. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Citigroup increased their price objective on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Bank of America increased their price objective on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.57.

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.