Is Buying 3M Company (NYSE:MMM), Having Higher Short Interest a Winning Strategy?

March 21, 2018 - By Louis Casey

 Is Buying 3M Company (NYSE:MMM), Having Higher Short Interest a Winning Strategy?

Investors sentiment decreased to 0.77 in Q3 2017. Its down 0.14, from 0.91 in 2017Q2. It is negative, as 59 investors sold 3M Company shares while 612 reduced holdings. 101 funds opened positions while 417 raised stakes. 387.06 million shares or 0.01% more from 387.02 million shares in 2017Q2 were reported.
Bowen Hanes And invested in 2.33% or 235,849 shares. Clear Harbor Asset Mngmt Ltd Liability Com holds 3,409 shares or 0.14% of its portfolio. Amp Cap, a Australia-based fund reported 338,713 shares. Sector Pension Invest Board holds 0.13% in 3M Company (NYSE:MMM) or 138,480 shares. Los Angeles Mgmt Equity Research, a California-based fund reported 406,225 shares. Tiemann Invest Limited Liability Corp reported 0.75% stake. 711,991 are held by Sarasin Partners Llp. Moreover, Strs Ohio has 0.29% invested in 3M Company (NYSE:MMM) for 322,854 shares. Wellington Shields Capital Ltd Liability Company, a New York-based fund reported 10,245 shares. Waters Parkerson And Ltd Company has 25,246 shares. Scotia accumulated 0.07% or 24,196 shares. Mathes Com reported 14,458 shares or 1.43% of all its holdings. Firsthand Mngmt invested 0.19% in 3M Company (NYSE:MMM). Boston Private Wealth Ltd Liability Corp invested in 0.45% or 55,289 shares. Cap Mngmt Assocs Ny accumulated 1.06% or 3,550 shares.

Since October 27, 2017, it had 0 insider purchases, and 21 insider sales for $34.51 million activity. 3,133 3M Company (NYSE:MMM) shares with value of $742,051 were sold by Little Frank R Jr.. 6,799 shares were sold by Shin Hak Cheol, worth $1.68M on Thursday, February 1. Keel Paul A also sold $3.33M worth of 3M Company (NYSE:MMM) on Thursday, February 1. $1.59M worth of 3M Company (NYSE:MMM) shares were sold by THULIN INGE G. Bauman James L sold $700,790 worth of stock. Vrohidis Ippocratis sold 225 shares worth $56,178.

The stock of 3M Company (NYSE:MMM) registered an increase of 8.42% in short interest. MMM’s total short interest was 9.36M shares in March as published by FINRA. Its up 8.42% from 8.63M shares, reported previously. With 2.60M shares average volume, it will take short sellers 4 days to cover their MMM’s short positions. The short interest to 3M Company’s float is 1.57%.

The stock increased 0.77% or $1.8 during the last trading session, reaching $234.25. About 982,642 shares traded. 3M Company (NYSE:MMM) has risen 18.59% since March 21, 2017 and is uptrending. It has outperformed by 1.89% the S&P500.

3M Company operates as a diversified technology firm worldwide. The company has market cap of $139.50 billion. The companyÂ’s Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; advanced ceramics; sealants; specialty materials; separation and purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products. It has a 29.54 P/E ratio. The Company’s Safety and Graphics Business segment provides personal protection products, traffic safety and security products, commercial graphics systems, commercial cleaning and protection products, floor matting, roofing granules for asphalt shingles, and fall protection products.

3M Company (NYSE:MMM) Ratings Coverage

Among 16 analysts covering 3M (NYSE:MMM), 7 have Buy rating, 4 Sell and 5 Hold. Therefore 44% are positive. 3M has $275.0 highest and $135 lowest target. $232.40’s average target is -0.79% below currents $234.25 stock price. 3M had 79 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has “Hold” rating by RBC Capital Markets on Tuesday, December 12. The rating was maintained by RBC Capital Markets with “Hold” on Wednesday, January 3. The rating was maintained by Jefferies with “Buy” on Tuesday, September 26. The firm earned “Buy” rating on Friday, May 26 by Jefferies. On Wednesday, September 20 the stock rating was downgraded by JP Morgan to “Underweight”. Stifel Nicolaus maintained the stock with “Hold” rating in Friday, January 26 report. The firm has “Outperform” rating by Credit Suisse given on Tuesday, March 15. The company was maintained on Monday, October 5 by Barclays Capital. UBS maintained the shares of MMM in report on Wednesday, March 30 with “Buy” rating. On Tuesday, February 13 the stock rating was upgraded by Deutsche Bank to “Buy”.

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