Investors Sell 3M (MMM) on Strength (MMM)
Investors sold shares of 3M Company (NYSE:MMM) on strength during trading hours on Monday. $76.73 million flowed into the stock on the tick-up and $123.11 million flowed out of the stock on the tick-down, for a money net flow of $46.38 million out of the stock. Of all equities tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $2.62 for the day and closed at $234.00
Several research firms have commented on MMM. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $258.00 price objective on the stock in a research report on Tuesday, November 7th. Goldman Sachs Group restated a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Citigroup upped their price objective on 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Jefferies Group upped their price objective on 3M to $262.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Bank of America upped their price objective on 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Three equities research 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. The stock has an average rating of “Hold” and a consensus target price of $231.16.
The company has a market capitalization of $140,340.00, a PE ratio of 25.85, a PEG ratio of 2.51 and a beta of 1.08. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the firm posted $2.15 EPS. The business’s revenue was up 6.0% on a year-over-year basis. sell-side analysts forecast that 3M Company will post 9.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th will be given a dividend of $0.0118 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.02%. 3M’s dividend payout ratio (DPR) is 52.46%.
In related news, VP Ivan K. Fong sold 2,348 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $233.12, for a total value of $547,365.76. Following the completion of the transaction, the vice president now directly owns 24,479 shares of the company’s stock, valued at approximately $5,706,544.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jon T. Lindekugel sold 400 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total value of $92,024.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,804 shares of company stock valued at $5,303,706. 0.58% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MMM. MPS Loria Financial Planners LLC acquired a new stake in shares of 3M during the 2nd quarter worth about $124,000. Hoertkorn Richard Charles acquired a new stake in shares of 3M during the 3rd quarter worth about $126,000. Proficio Capital Partners LLC raised its position in shares of 3M by 156.0% during the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock worth $131,000 after acquiring an additional 404 shares in the last quarter. Harfst & Associates Inc. raised its position in shares of 3M by 17.0% during the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock worth $143,000 after acquiring an additional 100 shares in the last quarter. Finally, Mascoma Wealth Management LLC raised its position in shares of 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after acquiring an additional 350 shares in the last quarter. 66.57% of the stock is owned by hedge funds and other institutional investors.
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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