Keybank National Association OH Sells 188 Shares of 3M (NYSE:MMM)

Keybank National Association OH decreased its position in shares of 3M (NYSE:MMM) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 317,666 shares of the conglomerate’s stock after selling 188 shares during the quarter. Keybank National Association OH’s holdings in 3M were worth $41,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bahl & Gaynor Inc. raised its position in shares of 3M by 1.0% during the fourth quarter. Bahl & Gaynor Inc. now owns 12,206 shares of the conglomerate’s stock valued at $1,576,000 after buying an additional 120 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 3M by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate’s stock valued at $461,761,000 after buying an additional 17,228 shares during the last quarter. James Reed Financial Services Inc. bought a new stake in shares of 3M during the fourth quarter valued at approximately $327,000. Steward Partners Investment Advisory LLC raised its position in shares of 3M by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,020 shares of the conglomerate’s stock valued at $5,295,000 after buying an additional 452 shares during the last quarter. Finally, Gryphon Financial Partners LLC bought a new stake in shares of 3M during the fourth quarter valued at approximately $143,000. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock worth $17,163,446. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Bank of America boosted their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research note on Wednesday, February 19th. Citigroup lifted their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Down 1.2 %

NYSE MMM opened at $153.19 on Tuesday. The firm has a market cap of $83.17 billion, a PE ratio of 20.29, a P/E/G ratio of 3.30 and a beta of 0.96. 3M has a 52 week low of $75.40 and a 52 week high of $156.35. The business’s fifty day simple moving average is $143.22 and its 200-day simple moving average is $135.74. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) 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 analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 EPS. As a group, equities analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a $0.73 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, February 14th. 3M’s payout ratio is 38.68%.

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.