Investors Sell 3M Company (MMM) on Strength (MMM)

Investors sold shares of 3M Company (NYSE:MMM) on strength during trading on Tuesday. $52.96 million flowed into the stock on the tick-up and $102.09 million flowed out of the stock on the tick-down, for a money net flow of $49.13 million out of the stock. Of all stocks tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $1.11 for the day and closed at $229.33

Several equities analysts recently commented on MMM shares. Zacks Investment Research downgraded shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Bank of America Corporation reissued a “buy” rating and issued a $227.00 price objective on shares of 3M in a research note on Thursday, September 14th. Credit Suisse Group reissued an “outperform” rating and issued a $237.00 price objective (up previously from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Citigroup Inc. increased their price objective on shares of 3M from $250.00 to $262.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Goldman Sachs Group, Inc. (The) raised shares of 3M from a “sell” rating to a “neutral” rating and increased their price objective for the company from $194.00 to $229.00 in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. 3M currently has a consensus rating of “Hold” and an average target price of $231.16.

The company has a market capitalization of $135,929.69, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 2.47 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the firm earned $2.15 earnings per share. 3M’s quarterly revenue was up 6.0% on a year-over-year basis. equities research analysts predict that 3M Company will post 9.08 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th will be issued a $0.0118 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.02%. 3M’s payout ratio is 52.51%.

In related news, CFO Nicholas C. Gangestad sold 4,004 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.84, for a total transaction of $936,295.36. Following the transaction, the chief financial officer now directly owns 25,805 shares of the company’s stock, valued at $6,034,241.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders sold 26,951 shares of company stock valued at $6,159,012 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MMM. Baker Ellis Asset Management LLC raised its position in shares of 3M by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 5,487 shares of the conglomerate’s stock valued at $1,142,000 after purchasing an additional 19 shares during the period. Kopp Investment Advisors LLC raised its position in shares of 3M by 0.4% in the second quarter. Kopp Investment Advisors LLC now owns 5,281 shares of the conglomerate’s stock valued at $1,099,000 after purchasing an additional 20 shares during the period. Main Street Research LLC raised its position in shares of 3M by 1.1% in the first quarter. Main Street Research LLC now owns 1,984 shares of the conglomerate’s stock valued at $380,000 after purchasing an additional 22 shares during the period. Osborne Partners Capital Management LLC raised its position in shares of 3M by 1.0% in the second quarter. Osborne Partners Capital Management LLC now owns 2,272 shares of the conglomerate’s stock valued at $473,000 after purchasing an additional 22 shares during the period. Finally, Smith Moore & CO. raised its position in shares of 3M by 0.3% in the first quarter. Smith Moore & CO. now owns 7,436 shares of the conglomerate’s stock valued at $1,423,000 after purchasing an additional 25 shares during the period. 66.26% of the stock is currently owned by institutional investors and hedge funds.

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About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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