Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $378,000 Stock Position in 3M (NYSE:MMM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of 3M (NYSE:MMM) by 31.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,461 shares of the conglomerate’s stock after buying an additional 828 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in 3M were worth $378,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MMM. Financial Freedom LLC acquired a new position in 3M during the 4th quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. acquired a new position in 3M during the 3rd quarter worth approximately $28,000. Briaud Financial Planning Inc purchased a new stake in shares of 3M in the third quarter worth approximately $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of 3M in the third quarter worth approximately $37,000. Finally, CGC Financial Services LLC raised its stake in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

3M Price Performance

Shares of NYSE MMM opened at $91.31 on Tuesday. The stock has a fifty day simple moving average of $95.92 and a two-hundred day simple moving average of $97.32. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The firm has a market cap of $50.53 billion, a price-to-earnings ratio of -7.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the prior year, the company earned $2.28 earnings per share. 3M’s revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 6.61%. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio is -47.82%.

Analyst Ratings Changes

Several brokerages have recently commented on MMM. Wells Fargo & Company lowered their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Bank of America lowered their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. StockNews.com began coverage on 3M in a research note on Thursday, April 4th. They issued a “buy” rating for the company. Mizuho reissued a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. Finally, Citigroup increased their price objective on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $103.50.

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.