Hudson Bay Capital Management LP Has $13.06 Million Holdings in 3M (NYSE:MMM)

Hudson Bay Capital Management LP lowered its stake in shares of 3M (NYSE:MMM - Free Report) by 60.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,143 shares of the conglomerate's stock after selling 154,968 shares during the quarter. Hudson Bay Capital Management LP's holdings in 3M were worth $13,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMM. ORG Partners LLC raised its stake in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after buying an additional 98 shares during the last quarter. Czech National Bank grew its stake in shares of 3M by 5.5% during the fourth quarter. Czech National Bank now owns 118,072 shares of the conglomerate's stock worth $15,242,000 after purchasing an additional 6,163 shares during the period. Aprio Wealth Management LLC increased its holdings in 3M by 19.1% in the fourth quarter. Aprio Wealth Management LLC now owns 3,195 shares of the conglomerate's stock valued at $412,000 after purchasing an additional 513 shares during the last quarter. Matrix Trust Co lifted its stake in 3M by 602.9% in the fourth quarter. Matrix Trust Co now owns 738 shares of the conglomerate's stock valued at $95,000 after buying an additional 633 shares during the period. Finally, Clark & Stuart Inc bought a new position in 3M during the fourth quarter worth about $9,553,000. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Up 0.8%

3M stock traded up $1.11 during midday trading on Thursday, reaching $148.99. The stock had a trading volume of 3,824,334 shares, compared to its average volume of 4,028,156. The stock has a market capitalization of $80.18 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The firm's fifty day simple moving average is $141.47 and its 200-day simple moving average is $139.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 1-year low of $96.76 and a 1-year high of $156.35.

3M (NYSE:MMM - Get Free Report) last announced 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 net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. As a group, analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. 3M's dividend payout ratio is 36.87%.

Analyst Ratings Changes

MMM has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Citigroup decreased their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Finally, Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.29.

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.