Cherry Creek Investment Advisors Inc. Purchases 157 Shares of 3M (NYSE:MMM)

Cherry Creek Investment Advisors Inc. increased its holdings in 3M (NYSE:MMM) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,636 shares of the conglomerate’s stock after acquiring an additional 157 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in 3M were worth $1,454,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MMM. CVA Family Office LLC raised its holdings in shares of 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after purchasing an additional 79 shares during the last quarter. Fortis Capital Advisors LLC increased its stake in 3M by 2.9% in the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after buying an additional 84 shares during the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after buying an additional 84 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of 3M by 2.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,038 shares of the conglomerate’s stock worth $415,000 after buying an additional 87 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of 3M by 0.4% in the second quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock valued at $2,311,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup raised their price objective on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Barclays boosted their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their price target on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $135.67.

3M Trading Down 2.9 %

Shares of MMM opened at $127.91 on Thursday. The business’s 50-day moving average price is $133.07 and its 200-day moving average price is $113.57. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. 3M has a twelve month low of $72.47 and a twelve month high of $141.34. The stock has a market cap of $70.78 billion, a PE ratio of -10.06, a P/E/G ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the prior year, the company posted $2.68 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. On average, equities analysts forecast that 3M will post 7.24 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.19%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio (DPR) is currently -22.01%.

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.