Investors Sell 3M Co. (MMM) on Strength (MMM)
Traders sold shares of 3M Co. (NYSE:MMM) on strength during trading hours on Monday. $44.11 million flowed into the stock on the tick-up and $65.86 million flowed out of the stock on the tick-down, for a money net flow of $21.75 million out of the stock. Of all equities tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $0.29 for the day and closed at $180.56
Several research analysts have weighed in on MMM shares. Credit Suisse Group AG reissued a “buy” rating on shares of 3M in a research report on Sunday, July 10th. Morgan Stanley reissued a “sell” rating on shares of 3M in a research report on Friday, June 10th. Jefferies Group reissued a “buy” rating on shares of 3M in a research report on Wednesday, July 6th. Sanford C. Bernstein reissued a “market perform” rating on shares of 3M in a research report on Monday, June 27th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $191.00 price objective (up previously from $168.00) on shares of 3M in a research report on Tuesday, April 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $163.32.
The firm has a market cap of $108.58 billion and a price-to-earnings ratio of 22.9294. The firm has a 50-day moving average price of $177.88 and a 200 day moving average price of $167.82.
3M (NYSE:MMM) last posted its earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. The business earned $7.70 billion during the quarter, compared to the consensus estimate of $7.73 billion. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 EPS. Equities research analysts predict that 3M Co. will post $8.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, August 17th.
In other news, VP Khandpur K. Ashish sold 1,679 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $178.39, for a total value of $299,516.81. Following the transaction, the vice president now directly owns 1,011 shares in the company, valued at approximately $180,352.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James L. Bauman sold 9,066 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $178.42, for a total value of $1,617,555.72. Following the completion of the transaction, the insider now owns 10,834 shares in the company, valued at $1,933,002.28. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Garcia Hamilton & Associates LP DE increased its position in 3M by 31.4% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 22,085 shares of the company’s stock worth $3,327,000 after buying an additional 5,274 shares during the period. Wetherby Asset Management Inc. increased its position in 3M by 2.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 14,407 shares of the company’s stock worth $2,170,000 after buying an additional 349 shares during the period. GAM Holding AG increased its position in 3M by 7.5% in the fourth quarter. GAM Holding AG now owns 106,286 shares of the company’s stock worth $16,011,000 after buying an additional 7,405 shares during the period. Johnson Financial Group Inc. increased its position in 3M by 3.2% in the fourth quarter. Johnson Financial Group Inc. now owns 17,645 shares of the company’s stock worth $2,657,000 after buying an additional 553 shares during the period. Finally, Hamilton Point Investment Advisors LLC increased its position in 3M by 9.7% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 10,166 shares of the company’s stock worth $1,531,000 after buying an additional 898 shares during the period.
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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