Lakeside Advisors INC. Has $3.60 Million Stock Holdings in 3M (NYSE:MMM)

Lakeside Advisors INC. decreased its position in shares of 3M (NYSE:MMM) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,882 shares of the conglomerate’s stock after selling 2,512 shares during the period. 3M comprises 2.5% of Lakeside Advisors INC.’s holdings, making the stock its 11th largest holding. Lakeside Advisors INC.’s holdings in 3M were worth $3,595,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MMM. Financial Freedom LLC acquired a new stake in 3M in the fourth quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. acquired a new stake in 3M in the third quarter valued at approximately $28,000. Briaud Financial Planning Inc acquired a new stake in 3M in the third quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new stake in 3M in the third quarter valued at approximately $37,000. Finally, CGC Financial Services LLC raised its stake in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

3M Stock Down 0.3 %

3M stock traded down $0.25 during midday trading on Wednesday, hitting $91.05. 3,036,971 shares of the stock were exchanged, compared to its average volume of 5,144,722. The stock has a market capitalization of $50.38 billion, a price-to-earnings ratio of -7.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a 52-week low of $71.12 and a 52-week high of $95.67. The business’s 50-day moving average price is $95.87 and its 200-day moving average price is $97.31.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping the consensus estimate 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 negative net margin of 21.40% and a positive return on equity of 62.45%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 earnings per share. On average, research analysts expect that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a $1.51 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 6.63%. 3M’s payout ratio is currently -47.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America decreased their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Royal Bank of Canada decreased their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, 3M has an average rating of “Hold” and an average price target of $103.50.

About 3M

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.