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

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.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.15 EPS. equities research analysts predict that 3M Co will post 9.09 EPS for the current fiscal year.

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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