3M (NYSE:MMM) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its stake in 3M (NYSE:MMM) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,550 shares of the conglomerate’s stock after selling 112 shares during the period. SeaCrest Wealth Management LLC’s holdings in 3M were worth $2,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Summit Asset Management LLC boosted its position in shares of 3M by 3.1% in the fourth quarter. Summit Asset Management LLC now owns 4,026 shares of the conglomerate’s stock worth $704,000 after acquiring an additional 120 shares during the last quarter. Blair William & Co. IL boosted its position in shares of 3M by 8.1% in the fourth quarter. Blair William & Co. IL now owns 251,629 shares of the conglomerate’s stock worth $43,982,000 after acquiring an additional 18,791 shares during the last quarter. OmniStar Financial Group Inc. boosted its position in shares of 3M by 12.0% in the fourth quarter. OmniStar Financial Group Inc. now owns 4,600 shares of the conglomerate’s stock worth $804,000 after acquiring an additional 492 shares during the last quarter. CI Investments Inc. boosted its position in shares of 3M by 130.2% in the fourth quarter. CI Investments Inc. now owns 26,705 shares of the conglomerate’s stock worth $4,668,000 after acquiring an additional 15,106 shares during the last quarter. Finally, Vectors Research Management LLC boosted its position in shares of 3M by 10.0% in the fourth quarter. Vectors Research Management LLC now owns 5,364 shares of the conglomerate’s stock worth $938,000 after acquiring an additional 489 shares during the last quarter. 64.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of MMM traded down $0.91 during mid-day trading on Tuesday, reaching $175.21. 22,731 shares of the stock traded hands, compared to its average volume of 3,009,451. The firm has a market cap of $101.46 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.85 and a beta of 0.92. The stock has a fifty day simple moving average of $173.52 and a 200 day simple moving average of $169.25. 3M has a 12-month low of $114.04 and a 12-month high of $187.27. The company has a quick ratio of 1.37, a current ratio of 1.90 and a debt-to-equity ratio of 1.54.

3M (NYSE:MMM) last issued its quarterly earnings results on Monday, January 25th. The conglomerate reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.39 billion. 3M had a net margin of 15.65% and a return on equity of 44.77%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 earnings per share. On average, equities research analysts expect that 3M will post 8.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 12th. Investors of record on Friday, February 12th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, February 11th. This is a positive change from 3M’s previous quarterly dividend of $1.47. 3M’s payout ratio is 65.05%.

In other 3M news, EVP Michael G. Vale sold 30,875 shares of the business’s stock in a transaction on Friday, January 29th. The shares were sold at an average price of $175.53, for a total transaction of $5,419,488.75. Following the completion of the sale, the executive vice president now owns 79,155 shares in the company, valued at $13,894,077.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey R. Lavers sold 6,219 shares of the business’s stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $172.09, for a total transaction of $1,070,227.71. Following the sale, the executive vice president now owns 10,643 shares of the company’s stock, valued at approximately $1,831,553.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,904 shares of company stock valued at $7,514,868. Insiders own 0.42% of the company’s stock.

A number of research analysts have weighed in on MMM shares. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $196.00 price target on the stock in a research report on Thursday, January 28th. Royal Bank of Canada reaffirmed a “hold” rating on shares of 3M in a research report on Sunday, January 24th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Wednesday, February 3rd. Morgan Stanley lifted their price target on shares of 3M from $176.00 to $188.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 12th. Finally, Citigroup lifted their price target on shares of 3M from $185.00 to $188.00 in a research report on Wednesday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $180.23.

About 3M

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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