3M (NYSE:MMM) Stock Holdings Boosted by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC raised its position in shares of 3M (NYSE:MMM) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,378 shares of the conglomerate’s stock after purchasing an additional 337 shares during the quarter. Koss Olinger Consulting LLC’s holdings in 3M were worth $1,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. RFG Advisory LLC boosted its stake in 3M by 86.9% during the 1st quarter. RFG Advisory LLC now owns 6,765 shares of the conglomerate’s stock valued at $718,000 after purchasing an additional 3,145 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in 3M during the 1st quarter valued at $32,000. Southland Equity Partners LLC boosted its stake in 3M by 10.1% during the 1st quarter. Southland Equity Partners LLC now owns 2,127 shares of the conglomerate’s stock valued at $226,000 after purchasing an additional 195 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of 3M during the 1st quarter worth $1,480,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This represents a 0.00 % 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 company insiders.

Wall Street Analysts Forecast Growth

MMM has been the subject of several research reports. Mizuho raised their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada raised their price objective on 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, July 29th. Bank of America raised their price objective on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays raised their price objective on 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $130.57.

3M Price Performance

NYSE MMM opened at $135.14 on Monday. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72. The stock’s 50-day moving average is $132.67 and its two-hundred day moving average is $112.87. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The firm has a market cap of $74.78 billion, a P/E ratio of -10.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the company earned $2.17 earnings per share. On average, analysts anticipate that 3M will post 7.24 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

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.