KLCM Advisors Inc. Buys 318 Shares of 3M (NYSE:MMM)

KLCM Advisors Inc. raised its holdings in shares of 3M (NYSE:MMM) by 20.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,838 shares of the conglomerate’s stock after buying an additional 318 shares during the quarter. KLCM Advisors Inc.’s holdings in 3M were worth $237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. raised its position in 3M by 16.2% during the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after purchasing an additional 20,421 shares during the last quarter. Franklin Resources Inc. raised its position in 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares during the last quarter. Meyer Handelman Co. raised its position in 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after purchasing an additional 2,678 shares during the last quarter. Ballentine Partners LLC raised its position in 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares during the last quarter. Finally, FMR LLC raised its position in 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

3M Stock Performance

MMM stock opened at $148.65 on Monday. The stock’s 50 day simple moving average is $138.80 and its 200 day simple moving average is $133.83. The stock has a market capitalization of $80.70 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $75.40 and a 12-month high of $155.00.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. As a group, research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is presently 37.09%.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research analyst reports. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and an average price target of $148.87.

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.