Kinloch Capital LLC Has $3.73 Million Stake in 3M (NYSE:MMM)

Kinloch Capital LLC trimmed its stake in 3M (NYSE:MMM) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,899 shares of the conglomerate’s stock after selling 2,951 shares during the period. 3M accounts for about 1.9% of Kinloch Capital LLC’s investment portfolio, making the stock its 23rd largest holding. Kinloch Capital LLC’s holdings in 3M were worth $3,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Capital Wealth Advisors bought a new stake in 3M during the fourth quarter valued at $472,000. Worldquant Millennium Advisors LLC bought a new stake in 3M during the fourth quarter valued at $1,506,000. Waverly Advisors LLC boosted its position in 3M by 22.5% during the fourth quarter. Waverly Advisors LLC now owns 26,443 shares of the conglomerate’s stock valued at $3,414,000 after acquiring an additional 4,858 shares during the last quarter. Woodline Partners LP boosted its position in 3M by 20.2% during the fourth quarter. Woodline Partners LP now owns 488,343 shares of the conglomerate’s stock valued at $63,040,000 after acquiring an additional 82,057 shares during the last quarter. Finally, Victrix Investment Advisors bought a new stake in 3M during the fourth quarter valued at $3,736,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Up 0.7%

MMM opened at $154.11 on Tuesday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. The firm has a market capitalization of $82.94 billion, a PE ratio of 20.41, a P/E/G ratio of 3.30 and a beta of 1.02. The company’s 50-day moving average is $141.68 and its 200 day moving average is $139.66.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. As a group, research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.89%. 3M’s dividend payout ratio is currently 36.87%.

Insiders Place Their Bets

In other news, EVP Zoe L. Dickson sold 7,915 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. This trade represents a 56.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MMM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research report on Saturday, May 10th. Citigroup cut their price objective on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Bank of America increased their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada increased their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $152.08.

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.