Boothbay Fund Management LLC Has $16.69 Million Stock Position in 3M (NYSE:MMM)

Boothbay Fund Management LLC boosted its holdings in 3M (NYSE:MMM - Free Report) by 96.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,273 shares of the conglomerate's stock after buying an additional 63,469 shares during the quarter. Boothbay Fund Management LLC's holdings in 3M were worth $16,688,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Tudor Financial Inc. purchased a new position in 3M in the 3rd quarter worth about $259,000. World Investment Advisors LLC boosted its holdings in shares of 3M by 22.4% in the third quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate's stock worth $1,609,000 after buying an additional 2,155 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in shares of 3M by 255.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate's stock worth $10,796,000 after buying an additional 56,734 shares during the period. Tidal Investments LLC increased its position in shares of 3M by 44.7% in the third quarter. Tidal Investments LLC now owns 72,733 shares of the conglomerate's stock worth $9,943,000 after acquiring an additional 22,461 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in shares of 3M by 0.7% during the third quarter. Peapack Gladstone Financial Corp now owns 116,993 shares of the conglomerate's stock valued at $15,993,000 after acquiring an additional 830 shares during the period. Institutional investors own 65.25% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Michael F. Roman sold 49,598 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the sale, the chairman now directly owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMM. Barclays lifted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Thursday. Citigroup reduced their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada lifted their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $147.00.

3M Stock Up 0.4 %

Shares of MMM traded up $0.56 during mid-day trading on Monday, hitting $137.88. 2,499,850 shares of the company's stock were exchanged, compared to its average volume of 4,169,132. The stock has a market cap of $74.20 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 3.30 and a beta of 1.01. The firm has a fifty day moving average of $142.90 and a two-hundred day moving average of $138.29. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $91.56 and a twelve month high of $156.35.

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

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. This is a positive change from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 14th. 3M's payout ratio is 36.87%.

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.