CreativeOne Wealth LLC Purchases 3,079 Shares of 3M (NYSE:MMM)

CreativeOne Wealth LLC lifted its holdings in shares of 3M (NYSE:MMM - Free Report) by 22.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,512 shares of the conglomerate's stock after acquiring an additional 3,079 shares during the period. CreativeOne Wealth LLC's holdings in 3M were worth $2,132,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MMM. Financial Life Planners acquired a new position in 3M in the fourth quarter worth about $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M in the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the 4th quarter worth approximately $27,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after buying an additional 214 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Down 0.2 %

MMM stock traded down $0.30 during midday trading on Friday, reaching $130.16. The company's stock had a trading volume of 4,951,917 shares, compared to its average volume of 4,151,045. The business's 50-day simple moving average is $144.53 and its 200-day simple moving average is $138.22. 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 has a 52 week low of $90.65 and a 52 week high of $156.35. The stock has a market cap of $70.20 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm's revenue was down 25.0% on a year-over-year basis. During the same period last year, the company earned $2.42 EPS. As a group, sell-side analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 38.68%.

Insider Buying and Selling

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last 90 days. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

MMM has been the subject of several recent analyst reports. Barclays dropped their price objective on 3M from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Bank of America boosted their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Finally, Citigroup reduced their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, 3M has a consensus rating of "Moderate Buy" and a consensus target price of $146.47.

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.