Traders sold shares of 3M Co (NYSE:MMM) on strength during trading on Wednesday. $93.42 million flowed into the stock on the tick-up and $175.03 million flowed out of the stock on the tick-down, for a money net flow of $81.61 million out of the stock. Of all equities tracked, 3M had the 22nd highest net out-flow for the day. 3M traded up $0.45 for the day and closed at $190.26
Several equities research analysts recently commented on MMM shares. Credit Suisse Group started coverage on 3M in a report on Friday, October 12th. They issued an “outperform” rating and a $228.00 price objective for the company. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research note on Monday. Barclays cut their price target on 3M from $201.00 to $195.00 and set an “underweight” rating for the company in a research note on Wednesday, October 24th. MED downgraded 3M from a “buy” rating to a “hold” rating and set a $208.00 price target for the company. in a research note on Thursday, July 12th. Finally, Citigroup cut their price target on 3M from $251.00 to $228.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $225.23.
The company has a market cap of $107.69 billion, a PE ratio of 20.75, a PEG ratio of 1.82 and a beta of 1.15. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.97 and a quick ratio of 1.36.
In other news, insider Jon T. Lindekugel sold 6,410 shares of 3M stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $203.01, for a total transaction of $1,301,294.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Hammes sold 1,272 shares of 3M stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $216.00, for a total value of $274,752.00. Following the transaction, the insider now directly owns 5,634 shares in the company, valued at $1,216,944. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Price Capital Management Inc. purchased a new position in shares of 3M during the 3rd quarter valued at about $126,000. SRS Capital Advisors Inc. lifted its position in shares of 3M by 1,652.8% during the 2nd quarter. SRS Capital Advisors Inc. now owns 631 shares of the conglomerate’s stock valued at $124,000 after buying an additional 595 shares in the last quarter. Braun Bostich & Associates Inc. lifted its position in shares of 3M by 221.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock valued at $137,000 after buying an additional 481 shares in the last quarter. Avestar Capital LLC lifted its position in shares of 3M by 161.2% during the 2nd quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock valued at $130,000 after buying an additional 432 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in 3M in the 2nd quarter worth approximately $149,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.
About 3M (NYSE:MMM)
3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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