Koshinski Asset Management Inc. Reduces Holdings in 3M (NYSE:MMM)

Koshinski Asset Management Inc. trimmed its holdings in shares of 3M (NYSE:MMM) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 26,719 shares of the conglomerate’s stock after selling 474 shares during the quarter. Koshinski Asset Management Inc.’s holdings in 3M were worth $3,449,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of 3M in the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC raised its stake in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its holdings in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the last quarter. ORG Partners LLC increased its holdings in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares during the last quarter. Finally, True Wealth Design LLC raised its position in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMM. Royal Bank of Canada lowered their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. UBS Group raised 3M from a “neutral” rating to a “buy” rating and raised their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Finally, Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

3M Stock Up 1.3 %

Shares of MMM stock opened at $141.02 on Tuesday. 3M has a 1 year low of $75.40 and a 1 year high of $141.66. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The business’s fifty day moving average is $131.24 and its 200-day moving average is $127.93. The stock has a market cap of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the company earned $2.68 earnings per share. 3M’s revenue was down 24.3% compared to the same quarter last year. Equities analysts expect that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. 3M’s dividend payout ratio is currently 35.35%.

3M 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.