CreativeOne Wealth LLC Has $544,000 Stock Position in 3M (NYSE:MMM)

CreativeOne Wealth LLC boosted its holdings in shares of 3M (NYSE:MMM) by 44.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,977 shares of the conglomerate’s stock after buying an additional 1,527 shares during the period. CreativeOne Wealth LLC’s holdings in 3M were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Fragasso Group Inc. lifted its position in 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after acquiring an additional 93 shares in the last quarter. Bangor Savings Bank lifted its position in 3M by 1.0% in the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock valued at $1,147,000 after acquiring an additional 104 shares in the last quarter. Allen Capital Group LLC lifted its position in 3M by 0.5% in the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after acquiring an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC lifted its position in 3M by 4.0% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock valued at $272,000 after acquiring an additional 111 shares in the last quarter. Finally, Allegheny Financial Group LTD lifted its position in shares of 3M by 2.3% during the 4th quarter. Allegheny Financial Group LTD now owns 5,032 shares of the conglomerate’s stock worth $550,000 after buying an additional 113 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Down 0.8 %

3M stock opened at $100.68 on Thursday. The stock has a market cap of $55.71 billion, a P/E ratio of -7.98, a PEG ratio of 1.90 and a beta of 1.00. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $106.04. The firm’s fifty day moving average price is $97.87 and its 200-day moving average price is $98.66. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The company had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same period in the previous year, the business earned $1.97 earnings per share. Equities research analysts forecast that 3M will post 7.23 earnings per share for the current fiscal year.

3M Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be given a $0.70 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.80 annualized dividend and a yield of 2.78%. 3M’s dividend payout ratio (DPR) is presently -47.48%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HSBC raised shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the stock from $91.13 to $115.00 in a research report on Friday, May 10th. Citigroup raised their price target on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their price target on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. UBS Group lifted their price target on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, StockNews.com started coverage on shares of 3M in a report on Tuesday. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $107.55.

3M Company 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.