Crew Capital Management Ltd. Purchases New Holdings in 3M (NYSE:MMM)

Crew Capital Management Ltd. purchased a new stake in shares of 3M (NYSE:MMM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,622 shares of the conglomerate’s stock, valued at approximately $287,000.

Several other large investors have also recently bought and sold shares of the stock. Choreo LLC boosted its position in 3M by 7.9% during the fourth quarter. Choreo LLC now owns 53,854 shares of the conglomerate’s stock valued at $5,887,000 after purchasing an additional 3,927 shares during the last quarter. Mather Group LLC. lifted its position in shares of 3M by 5.0% in the fourth quarter. Mather Group LLC. now owns 127,333 shares of the conglomerate’s stock valued at $13,920,000 after buying an additional 6,021 shares during the last quarter. Gilbert & Cook Inc. bought a new position in shares of 3M during the 4th quarter worth approximately $481,000. Marco Investment Management LLC bought a new position in shares of 3M during the 4th quarter worth approximately $248,000. Finally, Silver Oak Securities Incorporated boosted its stake in shares of 3M by 7.0% during the 4th quarter. Silver Oak Securities Incorporated now owns 2,673 shares of the conglomerate’s stock worth $292,000 after acquiring an additional 174 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.

3M Price Performance

NYSE MMM traded up $0.33 during midday trading on Monday, hitting $92.16. The company had a trading volume of 4,908,950 shares, compared to its average volume of 5,718,688. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a twelve month low of $71.12 and a twelve month high of $95.67. The company has a market capitalization of $51.00 billion, a PE ratio of -7.29, a P/E/G ratio of 1.74 and a beta of 1.02. The firm has a 50-day moving average price of $95.71 and a 200-day moving average price of $97.46.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.55%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is -47.82%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays reduced their target price on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Wells Fargo & Company reduced their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. reduced their price target on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Royal Bank of Canada reduced their price target on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.00.

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.