Crews Bank & Trust Acquires Shares of 7,210 3M (NYSE:MMM)

Crews Bank & Trust purchased a new position in 3M (NYSE:MMM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,210 shares of the conglomerate's stock, valued at approximately $931,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new position in 3M during the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC increased its holdings 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 during the period. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after buying an additional 121 shares in 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 period. Finally, True Wealth Design LLC raised its position in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after acquiring an additional 296 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

Insider Activity

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were 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 approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,291 shares of company stock valued at $9,339,786 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on MMM. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and lifted their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Mizuho increased their target price on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Melius Research raised shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $148.87.

3M Stock Performance

Shares of 3M stock traded up $2.77 on Thursday, reaching $154.31. 3,954,778 shares of the stock were exchanged, compared to its average volume of 4,686,885. 3M has a twelve month low of $75.40 and a twelve month high of $154.65. The business has a 50 day moving average price of $134.20 and a two-hundred day moving average price of $130.37. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $84.03 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating 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 the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $2.42 EPS. The business's revenue for the quarter was down 25.0% on a year-over-year basis. Analysts anticipate that 3M will post 7.66 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. 3M's payout ratio is currently 37.09%.

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.