Keybank National Association OH Sells 188 Shares of 3M (NYSE:MMM)

Keybank National Association OH lowered its holdings in 3M (NYSE:MMM) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 317,666 shares of the conglomerate’s stock after selling 188 shares during the period. Keybank National Association OH owned approximately 0.06% of 3M worth $41,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Chicago Partners Investment Group LLC increased its holdings in 3M by 10.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,569 shares of the conglomerate’s stock worth $712,000 after acquiring an additional 531 shares during the period. Pure Financial Advisors LLC purchased a new position in 3M in the 3rd quarter worth approximately $335,000. Van ECK Associates Corp grew its stake in 3M by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 88,912 shares of the conglomerate’s stock worth $11,373,000 after buying an additional 8,816 shares in the last quarter. Angeles Wealth Management LLC purchased a new position in 3M in the 3rd quarter worth approximately $257,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in 3M by 55.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 549,274 shares of the conglomerate’s stock worth $75,086,000 after buying an additional 195,191 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of MMM stock opened at $153.19 on Tuesday. The company’s 50-day moving average is $143.22 and its 200 day moving average is $135.74. 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 company has a market capitalization of $83.17 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 3.30 and a beta of 0.96. 3M has a one year low of $75.40 and a one year high of $156.35.

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

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is presently 38.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Wednesday, February 19th. Citigroup upped their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity

In related news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction 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 that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $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 a total of 113,639 shares of company stock valued at $17,163,446 in the last 90 days. 0.34% of the stock is currently owned by 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.