Boothbay Fund Management LLC Purchases 63,469 Shares of 3M (NYSE:MMM)

Boothbay Fund Management LLC grew its stake in 3M (NYSE:MMM - Free Report) by 96.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,273 shares of the conglomerate's stock after purchasing an additional 63,469 shares during the quarter. Boothbay Fund Management LLC's holdings in 3M were worth $16,688,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MMM. Financial Life Planners purchased a new stake in shares of 3M during the 4th quarter valued at $25,000. Proficio Capital Partners LLC purchased a new stake in 3M during the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. bought a new stake in 3M in the fourth quarter worth about $27,000. Daymark Wealth Partners LLC boosted its stake in 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. Institutional investors own 65.25% of the company's stock.

3M Price Performance

Shares of MMM traded up $0.47 during midday trading on Wednesday, reaching $138.85. The stock had a trading volume of 3,061,081 shares, compared to its average volume of 2,488,867. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. 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 $134.92 and a 12-month high of $139.65. The company's 50-day moving average is $142.69 and its 200 day moving average is $138.29.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Friday, February 14th. 3M's payout ratio is 36.87%.

Insider Buying and Selling at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the 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 sale, the executive vice president now owns 194 shares of the company's stock, valued at $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MMM shares. Barclays increased their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Citigroup decreased their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price target on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada raised their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $147.00.

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.