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

CreativeOne Wealth LLC grew its position in 3M (NYSE:MMM) by 22.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,512 shares of the conglomerate’s stock after purchasing an additional 3,079 shares during the quarter. CreativeOne Wealth LLC’s holdings in 3M were worth $2,132,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MMM. Financial Life Planners acquired a new position in 3M in the 4th quarter valued at $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M in the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the fourth quarter valued at about $27,000. Daymark Wealth Partners LLC increased its position in 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MMM shares. JPMorgan Chase & Co. decreased their target price on shares of 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their price objective on 3M from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Bank of America upped their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Citigroup decreased their price target on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and a consensus target price of $146.47.

3M Trading Down 0.6 %

Shares of MMM stock opened at $135.24 on Wednesday. 3M has a twelve month low of $90.17 and a twelve month high of $156.35. The stock’s fifty day simple moving average is $145.70 and its 200 day simple moving average is $138.36. 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 $72.94 billion, a P/E ratio of 17.91, a P/E/G ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The firm’s revenue was down 25.0% compared to the same quarter last year. As a group, sell-side analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

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

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares in the company, valued at $774,238.25. This trade represents a 24.20 % 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, 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 value of $269,885.00. Following the completion of 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 have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.34% of the stock is owned by insiders.

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.