3M Company (NYSE:MMM) Stake Boosted by Creekmur Asset Management LLC

Creekmur Asset Management LLC raised its stake in shares of 3M Company (NYSE:MMM - Free Report) by 9,377.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,762 shares of the conglomerate's stock after purchasing an additional 9,659 shares during the period. Creekmur Asset Management LLC's holdings in 3M were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. REAP Financial Group LLC boosted its position in 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Curat Global LLC acquired a new stake in shares of 3M in the 1st quarter worth $29,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M in the 4th quarter worth $27,000. Pinney & Scofield Inc. acquired a new stake in shares of 3M in the 4th quarter worth $28,000. Finally, Intelligent Financial Strategies purchased a new stake in shares of 3M during the first quarter worth about $42,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Performance

NYSE:MMM traded down $1.56 during mid-day trading on Monday, reaching $151.68. 1,739,827 shares of the stock were exchanged, compared to its average volume of 3,833,292. The stock has a market capitalization of $81.63 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.98 and a beta of 1.02. 3M Company has a 1 year low of $101.77 and a 1 year high of $164.15. The company has a 50 day simple moving average of $149.91 and a 200-day simple moving average of $145.65. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.15. The firm had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Analysts anticipate that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.93%. 3M's dividend payout ratio (DPR) is 40.61%.

Insiders Place Their Bets

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president owned 31,372 shares of the company's stock, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president directly owned 6,127 shares of the company's stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup lifted their price target on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Royal Bank Of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a research note on Friday. Barclays set a $170.00 price objective on 3M in a research report on Friday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Saturday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and a consensus target price of $156.33.

About 3M

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.