Kathmere Capital Management LLC Purchases 197 Shares of 3M (NYSE:MMM)

Kathmere Capital Management LLC increased its position in shares of 3M (NYSE:MMM) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,797 shares of the conglomerate’s stock after buying an additional 197 shares during the period. Kathmere Capital Management LLC’s holdings in 3M were worth $748,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in shares of 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC increased its holdings in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares in the last quarter. ORG Partners LLC lifted its holdings in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. Finally, True Wealth Design LLC boosted its position in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MMM shares. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price target on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Wednesday. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lowered their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $144.13.

3M Trading Up 0.6 %

Shares of NYSE:MMM opened at $138.07 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The stock has a market cap of $75.19 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.15 and a beta of 0.95. The business has a 50-day moving average price of $130.90 and a 200-day moving average price of $127.12.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period last year, the firm posted $2.68 EPS. Equities analysts predict that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.03%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 35.35%.

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.