Koss Olinger Consulting LLC Raises Position in 3M (NYSE:MMM)

by · The Markets Daily

Koss Olinger Consulting LLC lifted its stake in 3M (NYSE:MMM – Free Report) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,378 shares of the conglomerate’s stock after buying an additional 337 shares during the period. Koss Olinger Consulting LLC’s holdings in 3M were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. CVA Family Office LLC boosted its position in shares of 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after buying an additional 79 shares during the period. Fortis Capital Advisors LLC boosted its holdings in 3M by 2.9% in the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after purchasing an additional 84 shares during the last quarter. KMG Fiduciary Partners LLC boosted its holdings in 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after purchasing an additional 84 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in 3M by 0.4% in the second quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock valued at $2,311,000 after purchasing an additional 97 shares during the last quarter. Finally, AMG National Trust Bank boosted its holdings in 3M by 3.1% in the second quarter. AMG National Trust Bank now owns 3,326 shares of the conglomerate’s stock valued at $340,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

3M Stock Down 0.4 %

Shares of 3M stock opened at $135.14 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The business’s 50 day simple moving average is $132.67 and its 200-day simple moving average is $112.87. The stock has a market capitalization of $74.78 billion, a price-to-earnings ratio of -10.62, a PEG ratio of 2.49 and a beta of 0.95. 3M has a twelve month low of $71.12 and a twelve month high of $140.72.

3M (NYSE:MMM – Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period in the prior year, the firm earned $2.17 EPS. Equities research analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, July 30th. Morgan Stanley assumed coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Citigroup increased their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average price target of $130.57.

Read Our Latest Report on MMM

3M Company Profile

(Free Report)

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.

Further Reading

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