3M (NYSE:MMM) Stock Holdings Lessened by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP lowered its stake in 3M (NYSE:MMM) by 60.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,143 shares of the conglomerate’s stock after selling 154,968 shares during the period. Hudson Bay Capital Management LP’s holdings in 3M were worth $13,057,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after buying an additional 70 shares in the last quarter. LaSalle St. Investment Advisors LLC increased its stake in shares of 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock worth $381,000 after purchasing an additional 71 shares during the last quarter. Gilbert & Cook Inc. raised its stake in 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after buying an additional 73 shares during the period. Finally, Childress Capital Advisors LLC raised its stake in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after acquiring an additional 76 shares during the period. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Citigroup lowered their price objective on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

3M Trading Up 0.8%

NYSE MMM opened at $142.25 on Monday. The firm has a market capitalization of $76.56 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The business’s 50-day moving average price is $141.31 and its two-hundred day moving average price is $138.70. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12 month low of $96.76 and a 12 month high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. On average, analysts expect that 3M will post 7.8 EPS for the current year.

About 3M

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.