Knowledge Leaders Capital LLC Sells 354 Shares of 3M (NYSE:MMM)

Knowledge Leaders Capital LLC lessened its stake in shares of 3M (NYSE:MMM) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,029 shares of the conglomerate’s stock after selling 354 shares during the quarter. 3M comprises approximately 1.9% of Knowledge Leaders Capital LLC’s holdings, making the stock its 24th largest position. Knowledge Leaders Capital LLC’s holdings in 3M were worth $1,206,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MMM. Exchange Traded Concepts LLC boosted its stake in shares of 3M by 265,023.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 68,932 shares of the conglomerate’s stock worth $6,453,000 after acquiring an additional 68,906 shares in the last quarter. Caprock Group LLC lifted its position in shares of 3M by 57.0% during the 3rd quarter. Caprock Group LLC now owns 9,248 shares of the conglomerate’s stock worth $866,000 after purchasing an additional 3,357 shares during the last quarter. Capital Advisory Group Advisory Services LLC acquired a new position in shares of 3M during the 3rd quarter worth about $218,000. Greenwood Capital Associates LLC acquired a new position in shares of 3M during the 3rd quarter worth about $427,000. Finally, Galvin Gaustad & Stein LLC lifted its position in shares of 3M by 3.3% during the 3rd quarter. Galvin Gaustad & Stein LLC now owns 98,210 shares of the conglomerate’s stock worth $9,194,000 after purchasing an additional 3,097 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MMM. Barclays cut their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. cut their price target on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada cut their price target on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a report on Tuesday, April 2nd. Citigroup upped their price target on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company cut their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.00.

3M Price Performance

Shares of MMM traded up $0.42 during mid-day trading on Friday, reaching $91.83. The company had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. 3M has a twelve month low of $71.12 and a twelve month high of $95.67. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company’s 50-day moving average is $95.71 and its 200-day moving average is $97.37. The company has a market capitalization of $50.82 billion, a P/E ratio of -7.27, a P/E/G ratio of 1.73 and a beta of 1.02.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. 3M’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 EPS. On average, equities analysts anticipate that 3M will post 8.19 EPS for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.58%. 3M’s dividend payout ratio is -47.82%.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.

3M Company 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.