Kathmere Capital Management LLC Sells 1,064 Shares of 3M (NYSE:MMM)

Kathmere Capital Management LLC decreased its position in 3M (NYSE:MMM) by 15.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,945 shares of the conglomerate’s stock after selling 1,064 shares during the quarter. Kathmere Capital Management LLC’s holdings in 3M were worth $631,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MMM. Trexquant Investment LP raised its position in shares of 3M by 448.0% in the third quarter. Trexquant Investment LP now owns 43,787 shares of the conglomerate’s stock valued at $4,099,000 after purchasing an additional 35,796 shares during the period. Bank of Nova Scotia increased its position in 3M by 11.7% during the third quarter. Bank of Nova Scotia now owns 61,541 shares of the conglomerate’s stock worth $5,762,000 after acquiring an additional 6,425 shares during the period. Teza Capital Management LLC bought a new position in 3M during the third quarter worth $2,488,000. Ancora Advisors LLC increased its position in 3M by 89.9% during the third quarter. Ancora Advisors LLC now owns 32,580 shares of the conglomerate’s stock worth $3,050,000 after acquiring an additional 15,423 shares during the period. Finally, Kinloch Capital LLC increased its position in 3M by 2.5% during the third quarter. Kinloch Capital LLC now owns 29,366 shares of the conglomerate’s stock worth $2,749,000 after acquiring an additional 712 shares during the period. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MMM. HSBC raised shares of 3M from a “hold” rating to a “buy” rating and boosted their target price for the stock from $91.13 to $115.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. Barclays boosted their target price on shares of 3M from $112.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. StockNews.com began coverage on shares of 3M in a research note on Thursday, June 6th. They set a “buy” rating on the stock. Finally, Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $140.00 in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, 3M has a consensus rating of “Hold” and an average target price of $111.58.

3M Stock Down 0.9 %

Shares of NYSE:MMM opened at $102.19 on Friday. 3M has a 52 week low of $71.12 and a 52 week high of $106.04. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The company’s fifty day moving average is $99.23 and its 200-day moving average is $99.26. The company has a market capitalization of $56.55 billion, a PE ratio of -8.03, a P/E/G ratio of 1.94 and a beta of 0.96.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the previous year, the company earned $1.97 EPS. Equities research analysts predict that 3M will post 7.09 earnings per share for the current fiscal year.

3M Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.70 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.74%. 3M’s dividend payout ratio is presently -22.01%.

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.