3M (NYSE:MMM) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its position in 3M (NYSE:MMM - Free Report) by 57.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,701 shares of the conglomerate's stock after selling 57,354 shares during the period. Cresset Asset Management LLC's holdings in 3M were worth $5,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in 3M by 15.3% during the third quarter. Principal Financial Group Inc. now owns 737,075 shares of the conglomerate's stock worth $100,758,000 after acquiring an additional 97,741 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of 3M by 4.2% during the 4th quarter. Nordea Investment Management AB now owns 60,109 shares of the conglomerate's stock worth $7,783,000 after purchasing an additional 2,448 shares during the period. Fulton Bank N.A. increased its position in shares of 3M by 19.1% during the 4th quarter. Fulton Bank N.A. now owns 11,240 shares of the conglomerate's stock worth $1,451,000 after purchasing an additional 1,800 shares during the last quarter. InvesTrust purchased a new stake in 3M in the 4th quarter valued at about $6,687,000. Finally, ORG Partners LLC lifted its position in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MMM. Royal Bank of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Thursday, April 24th. 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. Bank of America boosted their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Barclays raised their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.00.

3M Stock Up 0.8 %

Shares of MMM traded up $1.13 during midday trading on Friday, reaching $142.25. The stock had a trading volume of 2,634,123 shares, compared to its average volume of 4,027,861. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company's fifty day simple moving average is $141.31 and its two-hundred day simple moving average is $138.54. The company has a market cap of $76.56 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 1-year low of $96.76 and a 1-year high of $156.35.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Equities research analysts expect that 3M will post 7.8 earnings per share for the current year.

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.