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

Cherry Tree Wealth Management LLC cut its stake in shares of 3M (NYSE:MMM) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,664 shares of the conglomerate’s stock after selling 239 shares during the quarter. Cherry Tree Wealth Management LLC’s holdings in 3M were worth $947,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Briaud Financial Planning Inc acquired a new stake in shares of 3M in the 3rd quarter worth $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of 3M during the third quarter worth $37,000. CGC Financial Services LLC raised its position in shares of 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC lifted its position in shares of 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after buying an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new position in 3M in the third quarter valued at $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.

3M Trading Up 0.8 %

Shares of NYSE:MMM traded up $0.81 during midday trading on Wednesday, hitting $96.35. The company had a trading volume of 3,488,807 shares, compared to its average volume of 5,841,330. The firm has a fifty day simple moving average of $96.30 and a 200 day simple moving average of $97.84. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. The stock has a market cap of $53.32 billion, a price-to-earnings ratio of -7.54, a PEG ratio of 1.79 and a beta of 1.00. 3M has a 12 month low of $71.12 and a 12 month high of $99.70.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating the consensus estimate of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the previous year, the business posted $1.97 EPS. On average, analysts predict that 3M will post 7.23 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays dropped their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. UBS Group upped their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup boosted their target price on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Finally, StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $103.70.

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.