Crews Bank & Trust Takes $931,000 Position in 3M (NYSE:MMM)

Crews Bank & Trust bought a new position in 3M (NYSE:MMM) in the 4th quarter, Holdings Channel reports. The firm bought 7,210 shares of the conglomerate’s stock, valued at approximately $931,000.

Other hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its position in shares of 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the period. Wynn Capital LLC increased its position in shares of 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after acquiring an additional 80 shares during the period. Harbour Investments Inc. boosted its holdings in shares of 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after purchasing an additional 81 shares during the period. KMG Fiduciary Partners LLC grew its stake in 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. increased its holdings in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after purchasing an additional 84 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 0.7 %

Shares of MMM stock opened at $152.57 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $75.40 and a twelve month high of $152.96. The company’s 50-day moving average price is $133.72 and its 200-day moving average price is $130.23. The stock has a market cap of $83.08 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 EPS. As a group, equities analysts predict that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is 37.09%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MMM. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Finally, Bank of America upped their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Two 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction on 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 directly owns 5,024 shares in the company, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at $774,238.25. This represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,291 shares of company stock worth $9,339,786. Company insiders own 0.34% of the company’s stock.

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.