Kestra Private Wealth Services LLC Increases Stock Position in 3M Company (NYSE:MMM)

Kestra Private Wealth Services LLC grew its position in shares of 3M Company (NYSE:MMM - Free Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,193 shares of the conglomerate's stock after purchasing an additional 2,883 shares during the period. Kestra Private Wealth Services LLC's holdings in 3M were worth $4,287,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of 3M by 26.6% in the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock worth $1,149,000 after buying an additional 1,872 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in 3M in the fourth quarter worth about $202,000. Mizuho Securities USA LLC increased its stake in 3M by 44.9% during the fourth quarter. Mizuho Securities USA LLC now owns 51,612 shares of the conglomerate's stock worth $6,663,000 after acquiring an additional 15,989 shares during the last quarter. American Century Companies Inc. raised its position in 3M by 12.0% during the fourth quarter. American Century Companies Inc. now owns 102,773 shares of the conglomerate's stock valued at $13,267,000 after purchasing an additional 11,032 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of 3M by 13.3% in the 4th quarter. Sei Investments Co. now owns 147,942 shares of the conglomerate's stock valued at $19,099,000 after purchasing an additional 17,330 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MMM shares. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a research report on Friday. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday, July 12th. JPMorgan Chase & Co. set a $167.00 target price on shares of 3M in a report on Friday. Barclays set a $170.00 price target on shares of 3M in a research note on Friday. Finally, Royal Bank Of Canada increased their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of "Moderate Buy" and an average target price of $156.33.

3M Stock Performance

3M stock opened at $153.81 on Monday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72. The company has a market capitalization of $82.78 billion, a PE ratio of 21.39, a P/E/G ratio of 2.98 and a beta of 1.02. The company has a 50 day moving average price of $149.91 and a 200-day moving average price of $145.65. 3M Company has a fifty-two week low of $101.77 and a fifty-two week high of $164.15.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 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 company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period last year, the business posted $1.93 EPS. 3M's quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts forecast that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.90%. 3M's dividend payout ratio (DPR) is presently 40.61%.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the business'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 owned 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction that occurred 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 in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.

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