Creegan & Nassoura Financial Group LLC Has $2.36 Million Holdings in 3M (NYSE:MMM)

Creegan & Nassoura Financial Group LLC decreased its holdings in 3M (NYSE:MMM) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,261 shares of the conglomerate’s stock after selling 200 shares during the quarter. 3M accounts for about 1.6% of Creegan & Nassoura Financial Group LLC’s portfolio, making the stock its 26th largest holding. Creegan & Nassoura Financial Group LLC’s holdings in 3M were worth $2,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MMM. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock valued at $694,000 after purchasing an additional 67 shares during the period. Parkside Financial Bank & Trust grew its holdings in 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock worth $665,000 after acquiring an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its position in shares of 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock valued at $381,000 after acquiring an additional 71 shares during the period. Gilbert & Cook Inc. boosted its holdings in shares of 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after purchasing an additional 73 shares during the period. Finally, Childress Capital Advisors LLC increased its holdings in 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Down 0.2 %

NYSE MMM opened at $130.16 on Monday. 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 12 month low of $90.65 and a 12 month high of $156.35. The stock’s 50 day moving average is $144.53 and its 200 day moving average is $138.26. The stock has a market cap of $70.20 billion, a PE ratio of 17.24, a P/E/G ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the previous year, the business earned $2.42 earnings per share. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. Research analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 2.24%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is currently 38.68%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MMM. Barclays reduced their target price on 3M from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Tuesday, April 8th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.47.

Insider Transactions at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,639 shares of company stock worth $17,163,446. 0.48% of the stock is currently owned by insiders.

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.