3M (NYSE:MMM) Shares Sold by Kathmere Capital Management LLC

Kathmere Capital Management LLC trimmed its stake in 3M (NYSE:MMM) by 15.2% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. grew its holdings in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Northwest Investment Counselors LLC purchased a new stake in 3M in the first quarter valued at approximately $32,000. Livelsberger Financial Advisory purchased a new stake in 3M in the fourth quarter valued at approximately $35,000. CGC Financial Services LLC grew its stake in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares during the period. Finally, Cape Investment Advisory Inc. increased its position in shares of 3M by 42.8% in the fourth quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 116 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Down 0.9 %

NYSE MMM opened at $102.19 on Friday. 3M has a 12 month low of $71.12 and a 12 month high of $106.04. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. The company has a market capitalization of $56.55 billion, a price-to-earnings ratio of -8.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company’s fifty day moving average price is $99.23 and its two-hundred day moving average price is $99.26.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the prior year, the firm posted $1.97 EPS. As a group, research analysts predict that 3M will post 7.09 earnings per share for the current fiscal year.

3M Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.74%. 3M’s dividend payout ratio (DPR) is -22.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MMM shares. Barclays increased their price objective 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. HSBC raised shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the stock from $91.13 to $115.00 in a research report on Friday, May 10th. Bank of America raised shares of 3M from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $105.00 to $120.00 in a research report on Friday, June 7th. Citigroup increased their price objective on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, UBS Group raised their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Hold” and an average target price of $111.58.

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.