Kelly Lawrence W & Associates Inc. CA Has $342,000 Position in 3M (NYSE:MMM)

Kelly Lawrence W & Associates Inc. CA lessened its stake in shares of 3M (NYSE:MMM) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,649 shares of the conglomerate’s stock after selling 500 shares during the period. Kelly Lawrence W & Associates Inc. CA’s holdings in 3M were worth $342,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock valued at $694,000 after acquiring an additional 67 shares during the period. Parkside Financial Bank & Trust grew its position in 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock worth $665,000 after purchasing an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC raised its position in shares of 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock valued at $381,000 after buying an additional 71 shares during the last quarter. Gilbert & Cook Inc. grew its position in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after buying an additional 73 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its holdings in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Tuesday, April 8th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Citigroup decreased their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their price objective on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.47.

3M Stock Down 0.2 %

MMM stock opened at $130.16 on Friday. 3M has a fifty-two week low of $90.65 and a fifty-two week high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market capitalization of $70.20 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 3.30 and a beta of 1.01. The business’s fifty day moving average price is $144.53 and its two-hundred day moving average price is $138.23.

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

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, February 14th. 3M’s dividend payout ratio is currently 38.68%.

About 3M

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.