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

SeaCrest Wealth Management LLC trimmed its position in shares of 3M (NYSE:MMM) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,888 shares of the conglomerate’s stock after selling 1,100 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in 3M were worth $1,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Accurate Wealth Management LLC increased its stake in shares of 3M by 1.9% during the fourth quarter. Accurate Wealth Management LLC now owns 8,585 shares of the conglomerate’s stock worth $1,127,000 after acquiring an additional 160 shares during the period. Wynn Capital LLC grew its position in 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 buying an additional 80 shares during the period. 180 Wealth Advisors LLC grew its position in 3M by 4.7% during the fourth quarter. 180 Wealth Advisors LLC now owns 6,538 shares of the conglomerate’s stock worth $844,000 after buying an additional 292 shares during the period. Tealwood Asset Management Inc. acquired a new position in 3M during the fourth quarter worth about $2,372,000. Finally, Marcum Wealth LLC grew its position in 3M by 40.7% during the fourth quarter. Marcum Wealth LLC now owns 2,190 shares of the conglomerate’s stock worth $283,000 after buying an additional 634 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM opened at $138.07 on Thursday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The company has a market capitalization of $75.19 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.15 and a beta of 0.95. The company’s 50 day simple moving average is $130.90 and its 200 day simple moving average is $127.12. 3M has a 1 year low of $75.40 and a 1 year high of $141.34.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 earnings per share. On average, sell-side analysts predict that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is currently 35.35%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Wednesday. Barclays lowered their price target on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.13.

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.