Creative Planning Sells 7,505 Shares of 3M (NYSE:MMM)

Creative Planning cut its stake in shares of 3M (NYSE:MMM) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,908 shares of the conglomerate’s stock after selling 7,505 shares during the period. Creative Planning’s holdings in 3M were worth $22,438,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its stake in 3M by 7.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 11,665 shares of the conglomerate’s stock valued at $2,046,000 after acquiring an additional 802 shares in the last quarter. Carlson Capital Management raised its stake in shares of 3M by 0.6% during the 3rd quarter. Carlson Capital Management now owns 99,681 shares of the conglomerate’s stock worth $17,486,000 after purchasing an additional 618 shares during the period. 55I LLC raised its stake in 3M by 48.2% in the 2nd quarter. 55I LLC now owns 6,894 shares of the conglomerate’s stock valued at $1,370,000 after acquiring an additional 2,242 shares during the period. National Pension Service raised its stake in 3M by 1.4% in the 2nd quarter. National Pension Service now owns 763,023 shares of the conglomerate’s stock valued at $151,559,000 after acquiring an additional 10,595 shares during the period. Finally, Private Advisor Group LLC raised its stake in 3M by 59.3% in the 3rd quarter. Private Advisor Group LLC now owns 142,970 shares of the conglomerate’s stock valued at $25,079,000 after acquiring an additional 53,239 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

A number of research analysts have weighed in on the company. Morgan Stanley lifted their target price on 3M from $193.00 to $194.00 and gave the company an “equal weight” rating in a report on Wednesday, October 27th. JPMorgan Chase & Co. cut their price objective on 3M from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, November 3rd. Langenberg & Company raised 3M from a “hold” rating to a “buy” rating in a report on Monday, October 11th. UBS Group cut their target price on 3M from $183.00 to $172.00 and set a “sell” rating for the company in a research note on Friday, September 17th. Finally, Mizuho assumed coverage on 3M in a research note on Thursday, December 16th. They issued a “neutral” rating and a $180.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $190.57.

3M stock opened at $180.50 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.19 and a current ratio of 1.70. The business’s 50-day simple moving average is $177.56 and its two-hundred day simple moving average is $185.80. The company has a market cap of $104.44 billion, a PE ratio of 17.76, a PEG ratio of 1.78 and a beta of 0.96. 3M has a fifty-two week low of $163.38 and a fifty-two week high of $208.95.

3M (NYSE:MMM) last released its quarterly earnings results on Monday, October 25th. The conglomerate reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.24. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. 3M had a return on equity of 42.80% and a net margin of 16.90%. 3M’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.43 EPS. As a group, analysts predict that 3M will post 9.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Sunday, December 12th. Stockholders of record on Friday, November 19th were given a $1.48 dividend. The ex-dividend date was Thursday, November 18th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.28%. 3M’s dividend payout ratio (DPR) is presently 58.10%.

About 3M

3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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