3M (NYSE:MMM) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. raised its holdings in shares of 3M (NYSE:MMM) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,104 shares of the conglomerate’s stock after purchasing an additional 173 shares during the period. Kovack Advisors Inc.’s holdings in 3M were worth $917,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MMM. State Street Corp raised its position in shares of 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after purchasing an additional 302,900 shares during the last quarter. FMR LLC increased its stake in 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 3M by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock worth $734,456,000 after buying an additional 479,621 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 3M by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after buying an additional 43,942 shares during the period. Finally, National Pension Service grew its holdings in shares of 3M by 20.0% during the fourth quarter. National Pension Service now owns 1,521,626 shares of the conglomerate’s stock valued at $196,427,000 after buying an additional 253,623 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

MMM opened at $150.48 on Friday. The company has a market cap of $81.70 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 3.30 and a beta of 0.96. The firm’s fifty day simple moving average is $142.21 and its two-hundred day simple moving average is $135.20. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52-week low of $75.40 and a 52-week high of $155.00.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 EPS. Equities analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is 38.68%.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares of the company’s stock, valued at $774,238.25. This trade represents a 24.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Barclays upped their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America raised their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup lifted their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

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.