Traders Sell Shares of 3M (MMM) on Strength (MMM)

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.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.12). The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.41 billion. 3M had a net margin of 13.79% and a return on equity of 54.60%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 earnings per share. Equities analysts forecast that 3M Co will post 10.03 EPS for the current year.

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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