Koshinski Asset Management Inc. Decreases Stake in 3M (NYSE:MMM)

Koshinski Asset Management Inc. lowered its holdings in 3M (NYSE:MMM) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,719 shares of the conglomerate’s stock after selling 474 shares during the quarter. Koshinski Asset Management Inc.’s holdings in 3M were worth $3,449,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in 3M by 0.8% during the second quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock worth $8,396,000 after purchasing an additional 650 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of 3M by 17.6% in the 2nd quarter. Intech Investment Management LLC now owns 34,758 shares of the conglomerate’s stock worth $3,552,000 after buying an additional 5,205 shares in the last quarter. AE Wealth Management LLC grew its stake in 3M by 6.9% in the 2nd quarter. AE Wealth Management LLC now owns 24,322 shares of the conglomerate’s stock valued at $2,485,000 after acquiring an additional 1,565 shares during the last quarter. Sei Investments Co. increased its holdings in 3M by 6.7% during the 2nd quarter. Sei Investments Co. now owns 165,119 shares of the conglomerate’s stock valued at $16,874,000 after acquiring an additional 10,309 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of 3M by 169.2% in the second quarter. Ensign Peak Advisors Inc now owns 335,895 shares of the conglomerate’s stock valued at $34,325,000 after purchasing an additional 211,128 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday. Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price target on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.13.

3M Stock Up 1.3 %

MMM opened at $141.02 on Tuesday. The company has a market cap of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a 1 year low of $75.40 and a 1 year high of $141.66. The firm has a 50 day moving average price of $131.24 and a 200 day moving average price of $127.93.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the business posted $2.68 EPS. The business’s quarterly revenue was down 24.3% on a year-over-year basis. Sell-side analysts expect that 3M will post 7.28 earnings per share for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 35.35%.

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.