Kinloch Capital LLC Has $3.73 Million Holdings in 3M (NYSE:MMM)

Kinloch Capital LLC lessened its holdings in shares of 3M (NYSE:MMM - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,899 shares of the conglomerate's stock after selling 2,951 shares during the quarter. 3M accounts for approximately 1.9% of Kinloch Capital LLC's holdings, making the stock its 23rd largest holding. Kinloch Capital LLC's holdings in 3M were worth $3,731,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MMM. Financial Life Planners acquired a new stake in 3M during the 4th quarter worth $25,000. Proficio Capital Partners LLC acquired a new stake in 3M during the 4th quarter worth $26,000. Hazlett Burt & Watson Inc. acquired a new stake in 3M during the 4th quarter worth $27,000. Daymark Wealth Partners LLC raised its stake in 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in 3M by 230.1% during 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 during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

MMM has been the topic of several recent research reports. Barclays lifted their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. lifted their price target on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Citigroup dropped their price target on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average target price of $152.08.

Insider Activity at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president now directly owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

3M Stock Up 0.7%

Shares of NYSE:MMM opened at $154.11 on Tuesday. The company has a fifty day moving average of $141.68 and a 200-day moving average of $139.66. The company has a market capitalization of $82.94 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $96.76 and a 52-week high of $156.35.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.89%. 3M's dividend payout ratio (DPR) is presently 36.87%.

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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