Kathmere Capital Management LLC Purchases 491 Shares of 3M (NYSE:MMM)

Kathmere Capital Management LLC raised its position in shares of 3M (NYSE:MMM) by 32.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,015 shares of the conglomerate’s stock after purchasing an additional 491 shares during the period. Kathmere Capital Management LLC’s holdings in 3M were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Canton Hathaway LLC bought a new position in shares of 3M in the third quarter worth $31,000. Stock Yards Bank & Trust Co. boosted its holdings in shares of 3M by 5.2% in the third quarter. Stock Yards Bank & Trust Co. now owns 14,184 shares of the conglomerate’s stock worth $2,489,000 after acquiring an additional 700 shares during the period. Becker Capital Management Inc. boosted its holdings in shares of 3M by 35.9% in the third quarter. Becker Capital Management Inc. now owns 74,863 shares of the conglomerate’s stock worth $13,133,000 after acquiring an additional 19,781 shares during the period. WESPAC Advisors SoCal LLC boosted its holdings in shares of 3M by 5.0% in the third quarter. WESPAC Advisors SoCal LLC now owns 37,783 shares of the conglomerate’s stock worth $6,721,000 after acquiring an additional 1,791 shares during the period. Finally, Newfound Research LLC boosted its holdings in shares of 3M by 106.6% in the third quarter. Newfound Research LLC now owns 597 shares of the conglomerate’s stock worth $105,000 after acquiring an additional 308 shares during the period. 66.73% of the stock is owned by institutional investors and hedge funds.

NYSE MMM traded down $1.83 during trading hours on Thursday, reaching $177.63. 1,487,895 shares of the stock traded hands, compared to its average volume of 2,431,526. The stock has a 50 day simple moving average of $180.19 and a two-hundred day simple moving average of $191.95. 3M has a 1 year low of $163.38 and a 1 year high of $208.95. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.70 and a quick ratio of 1.19. The company has a market cap of $102.78 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96.

3M (NYSE:MMM) last released its quarterly earnings results on Monday, October 25th. The conglomerate reported $2.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.24. 3M had a return on equity of 42.80% and a net margin of 16.90%. The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter last year, the business posted $2.43 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that 3M will post 9.87 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 12th. Shareholders of record on Friday, November 19th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, November 18th. This represents a $5.92 dividend on an annualized basis and a yield of 3.33%. 3M’s payout ratio is 58.10%.

A number of equities analysts have recently commented on the company. Credit Suisse Group cut their price target on 3M from $202.00 to $201.00 and set a “neutral” rating for the company in a report on Wednesday, October 27th. Royal Bank of Canada cut their price target on 3M from $203.00 to $201.00 and set a “sector perform” rating for the company in a report on Wednesday, October 27th. JPMorgan Chase & Co. lowered their price objective on 3M from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 3rd. Wells Fargo & Company increased their price objective on 3M from $179.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 27th. Finally, Langenberg & Company upgraded 3M from a “hold” rating to a “buy” rating in a research report on Monday, October 11th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 3M currently has an average rating of “Hold” and a consensus target price of $195.08.

About 3M

3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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