SeaCrest Wealth Management LLC Has $1.22 Million Stock Position in 3M (NYSE:MMM)

SeaCrest Wealth Management LLC cut its stake in shares of 3M (NYSE:MMM) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,248 shares of the conglomerate’s stock after selling 647 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in 3M were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fragasso Group Inc. raised its holdings in 3M by 3.8% during 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 during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of 3M by 1.2% in the first quarter. Orion Portfolio Solutions LLC now owns 7,941 shares of the conglomerate’s stock worth $1,182,000 after acquiring an additional 98 shares during the period. McIlrath & Eck LLC grew its position in shares of 3M by 13.3% in the fourth quarter. McIlrath & Eck LLC now owns 836 shares of the conglomerate’s stock valued at $100,000 after purchasing an additional 98 shares in the last quarter. Vestcor Inc raised its stake in shares of 3M by 0.8% during the 4th quarter. Vestcor Inc now owns 13,133 shares of the conglomerate’s stock valued at $1,575,000 after purchasing an additional 102 shares during the period. Finally, Bollard Group LLC lifted its holdings in 3M by 2.0% during the 2nd quarter. Bollard Group LLC now owns 5,191 shares of the conglomerate’s stock worth $520,000 after purchasing an additional 103 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of a number of recent analyst reports. Barclays raised 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $111.00 to $126.00 in a report on Tuesday, March 19th. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price on shares of 3M in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. StockNews.com initiated coverage on shares of 3M in a research report on Wednesday. They set a “buy” rating for the company. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $84.00 price objective on shares of 3M in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $107.60.

3M Price Performance

MMM traded up $1.46 during midday trading on Thursday, hitting $106.05. The stock had a trading volume of 4,385,166 shares, compared to its average volume of 5,107,112. 3M has a 1 year low of $85.35 and a 1 year high of $113.14. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The business has a fifty day moving average of $96.86 and a 200 day moving average of $97.78. The company has a market cap of $58.61 billion, a P/E ratio of -8.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.00.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. As a group, equities analysts forecast that 3M will post 9.77 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 5.70%. 3M’s dividend payout ratio is currently -47.82%.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.