CreativeOne Wealth LLC Has $2.13 Million Stock Position in 3M (NYSE:MMM)

CreativeOne Wealth LLC raised its holdings in 3M (NYSE:MMM) by 22.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,512 shares of the conglomerate’s stock after acquiring an additional 3,079 shares during the quarter. CreativeOne Wealth LLC’s holdings in 3M were worth $2,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mariner LLC increased its stake in shares of 3M by 0.9% in the 4th quarter. Mariner LLC now owns 222,179 shares of the conglomerate’s stock valued at $28,681,000 after acquiring an additional 2,017 shares in the last quarter. SageView Advisory Group LLC bought a new stake in 3M in the fourth quarter valued at $410,000. Savvy Advisors Inc. raised its holdings in shares of 3M by 27.1% during the fourth quarter. Savvy Advisors Inc. now owns 3,170 shares of the conglomerate’s stock valued at $409,000 after purchasing an additional 675 shares during the period. Stamos Capital Partners L.P. boosted its position in shares of 3M by 3.1% during the 4th quarter. Stamos Capital Partners L.P. now owns 15,540 shares of the conglomerate’s stock worth $2,006,000 after purchasing an additional 470 shares in the last quarter. Finally, Bragg Financial Advisors Inc grew its stake in shares of 3M by 11.2% in the 4th quarter. Bragg Financial Advisors Inc now owns 6,028 shares of the conglomerate’s stock valued at $778,000 after buying an additional 605 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 0.6 %

NYSE MMM opened at $135.24 on Wednesday. The business’s fifty day moving average is $145.70 and its 200-day moving average is $138.36. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market capitalization of $72.94 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 3.30 and a beta of 1.01. 3M has a one year low of $90.17 and a one year high of $156.35.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. Equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.16%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M’s dividend payout ratio is 38.68%.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares in the company, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MMM. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Citigroup decreased their price target on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.47.

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.