Kennondale Capital Management LLC Has $2.26 Million Position in 3M Company (NYSE:MMM)

Kennondale Capital Management LLC decreased its stake in 3M Company (NYSE:MMM - Free Report) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,384 shares of the conglomerate's stock after selling 4,334 shares during the period. 3M makes up 2.5% of Kennondale Capital Management LLC's portfolio, making the stock its 7th biggest position. Kennondale Capital Management LLC's holdings in 3M were worth $2,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC raised its stake in 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after buying an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the 4th quarter worth approximately $27,000. Pinney & Scofield Inc. acquired a new stake in shares of 3M during the 4th quarter worth approximately $28,000. Curat Global LLC acquired a new stake in shares of 3M during the 1st quarter worth approximately $29,000. Finally, Meeder Asset Management Inc. grew its holdings in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a report on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 price target on 3M in a research note on Friday, July 18th. Barclays set a $170.00 price target on 3M in a research note on Friday, July 18th. Royal Bank Of Canada increased their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Finally, Citigroup raised their price objective on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, 3M has an average rating of "Moderate Buy" and an average target price of $156.33.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

3M Stock Down 0.9%

Shares of NYSE:MMM traded down $1.42 during midday trading on Thursday, hitting $149.40. 3,625,167 shares of the stock were exchanged, compared to its average volume of 3,900,180. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72. 3M Company has a 52-week low of $101.77 and a 52-week high of $164.15. The business's fifty day simple moving average is $150.02 and its two-hundred day simple moving average is $145.88. The company has a market capitalization of $79.57 billion, a PE ratio of 20.78, a P/E/G ratio of 3.09 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. 3M had a return on equity of 96.48% and a net margin of 16.01%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the company earned $1.93 earnings per share. 3M's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, research analysts predict that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.95%. 3M's payout ratio is 40.61%.

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.