Traders sold shares of 3M Co (NYSE:MMM) on strength during trading hours on Friday. $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 companies 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
MMM has been the subject of a number of research analyst reports. Bank of America upped their target price on 3M from $227.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Argus reissued a “buy” rating on shares of 3M in a research report on Friday, December 22nd. Zacks Investment Research cut 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Credit Suisse Group reissued an “outperform” rating and issued a $237.00 target price (up from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. cut 3M from a “neutral” rating to an “underweight” rating and upped their target price for the company from $185.00 to $201.00 in a research report on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. 3M has a consensus rating of “Hold” and an average target price of $232.15.
The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. The firm has a market cap of $145,610.00, a P/E ratio of 27.28, a P/E/G ratio of 2.39 and a beta of 1.10.
In other 3M news, Chairman Inge G. Thulin sold 6,823 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.14, for a total transaction of $1,590,714.22. Following the completion of the sale, the chairman now directly owns 196,906 shares of the company’s stock, valued at approximately $45,906,664.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon T. Lindekugel sold 400 shares of the company’s stock in a transaction that occurred 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 ninety days, insiders have sold 22,804 shares of company stock valued at $5,303,706. 0.58% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MMM. Capital Research Global Investors purchased a new position in shares of 3M during the 2nd quarter worth approximately $89,237,000. Coho Partners Ltd. raised its stake in shares of 3M by 26.8% during the 2nd quarter. Coho Partners Ltd. now owns 687,532 shares of the conglomerate’s stock worth $143,137,000 after buying an additional 145,318 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of 3M during the 3rd quarter worth approximately $28,564,000. Capital Wealth Planning LLC raised its stake in shares of 3M by 1,854.3% during the 2nd quarter. Capital Wealth Planning LLC now owns 131,427 shares of the conglomerate’s stock worth $27,362,000 after buying an additional 124,702 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of 3M by 4.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock worth $399,069,000 after buying an additional 89,307 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.
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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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