Traders Sell Shares of 3M (MMM) on Strength (MMM)
Investors sold shares of 3M Co (NYSE:MMM) on strength during trading on Monday. $98.91 million flowed into the stock on the tick-up and $175.84 million flowed out of the stock on the tick-down, for a money net flow of $76.93 million out of the stock. Of all stocks tracked, 3M had the 19th highest net out-flow for the day. 3M traded up $2.16 for the day and closed at $244.47
A number of research firms have issued reports on MMM. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Morgan Stanley increased their target price on shares of 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a research report on Monday, October 2nd. Stifel Nicolaus increased their target price on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Goldman Sachs Group restated a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Finally, Deutsche Bank increased their price target on shares of 3M from $180.00 to $240.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $232.61.
The stock has a market cap of $145,610.00, a P/E ratio of 27.28, a P/E/G ratio of 2.43 and a beta of 1.10. 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 quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business posted $2.15 EPS. 3M’s quarterly revenue was up 6.0% on a year-over-year basis. equities research analysts expect that 3M Co will post 9.1 earnings per share for the current year.
In related news, VP Khandpur K. Ashish sold 4,004 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total value of $926,485.56. Following the transaction, the vice president now directly owns 5,236 shares in the company, valued at approximately $1,211,558.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction on 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 a total of 22,804 shares of company stock worth $5,303,706 over the last quarter. 0.58% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of MMM. Private Trust Co. NA grew its stake in 3M by 10.7% in the 2nd quarter. Private Trust Co. NA now owns 21,709 shares of the conglomerate’s stock valued at $4,519,000 after buying an additional 2,097 shares during the last quarter. Capital Investment Advisors LLC grew its stake in 3M by 9.7% in the 2nd quarter. Capital Investment Advisors LLC now owns 10,688 shares of the conglomerate’s stock valued at $2,225,000 after buying an additional 948 shares during the last quarter. Appleton Partners Inc. MA grew its stake in 3M by 19.2% in the 2nd quarter. Appleton Partners Inc. MA now owns 17,593 shares of the conglomerate’s stock valued at $3,663,000 after buying an additional 2,832 shares during the last quarter. Confluence Investment Management LLC grew its stake in 3M by 2.6% in the 2nd quarter. Confluence Investment Management LLC now owns 493,947 shares of the conglomerate’s stock valued at $102,835,000 after buying an additional 12,502 shares during the last quarter. Finally, First Financial Bank Trust Division grew its stake in 3M by 5.3% in the 2nd quarter. First Financial Bank Trust Division now owns 15,105 shares of the conglomerate’s stock valued at $3,144,000 after buying an additional 764 shares during the last quarter. Institutional investors and hedge funds own 66.23% of the company’s stock.
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3M Company Profile
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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