Kickstand Ventures LLC. Has $425,000 Holdings in 3M Company $MMM

Kickstand Ventures LLC. lessened its position in shares of 3M Company (NYSE:MMM) by 27.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,794 shares of the conglomerate’s stock after selling 1,040 shares during the period. Kickstand Ventures LLC.’s holdings in 3M were worth $425,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MMM. Caitong International Asset Management Co. Ltd bought a new stake in shares of 3M during the first quarter worth approximately $28,000. WPG Advisers LLC bought a new stake in shares of 3M during the first quarter worth approximately $28,000. Curat Global LLC bought a new stake in shares of 3M during the first quarter worth approximately $29,000. Saudi Central Bank bought a new stake in shares of 3M during the first quarter worth approximately $31,000. Finally, Intelligent Financial Strategies bought a new stake in shares of 3M during the first quarter worth approximately $42,000. Institutional investors own 65.25% of the company’s stock.

3M Stock Down 0.2%

Shares of MMM opened at $158.45 on Friday. 3M Company has a one year low of $121.98 and a one year high of $164.15. The company has a market cap of $84.40 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.88 and a beta of 1.05. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $154.38 and a two-hundred day simple moving average of $148.58.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 earnings per share. Research analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 25th were issued a dividend of $0.73 per share. The ex-dividend date was Monday, August 25th. This represents a $2.92 annualized dividend and a dividend yield of 1.8%. 3M’s dividend payout ratio is 40.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MMM shares. Weiss Ratings upgraded 3M from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, September 27th. Barclays set a $170.00 price target on 3M in a research note on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 price target on 3M in a research note on Friday, July 18th. Wells Fargo & Company reiterated an “overweight” rating on shares of 3M in a research note on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on 3M from $177.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $164.10.

Insider Buying and Selling at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the sale, the insider directly owned 2,900 shares in the company, valued at $435,522. This represents a 68.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Theresa E. Reinseth sold 3,477 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the completion of the sale, the chief accounting officer owned 2,561 shares of the company’s stock, valued at $385,763.43. The trade was a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.