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

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Investors sold shares of 3M Co (NYSE:MMM) on strength during trading hours on Wednesday. $64.47 million flowed into the stock on the tick-up and $157.17 million flowed out of the stock on the tick-down, for a money net flow of $92.70 million out of the stock. Of all equities tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $1.03 for the day and closed at $210.46

A number of equities analysts have recently commented on MMM shares. Citigroup set a $263.00 target price on shares of 3M and gave the stock a “buy” rating in a research report on Saturday, June 9th. ValuEngine lowered shares of 3M from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Barclays reduced their target price on shares of 3M from $210.00 to $201.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 25th. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Finally, Royal Bank of Canada raised shares of 3M from a “sector perform” rating to an “outperform” rating and set a $238.00 target price on the stock in a research report on Thursday, May 3rd. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $234.97.

The firm has a market cap of $122.21 billion, a PE ratio of 22.92, a P/E/G ratio of 1.98 and a beta of 1.17. The company has a current ratio of 1.56, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.58 by $0.01. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.36 billion. 3M had a net margin of 13.44% and a return on equity of 51.31%. 3M’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. analysts anticipate that 3M Co will post 10.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Friday, August 24th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.59%. The ex-dividend date is Thursday, August 23rd. 3M’s payout ratio is 59.32%.

In related news, insider Jon T. Lindekugel sold 6,410 shares of 3M stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $203.01, for a total transaction of $1,301,294.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Rainier Group Investment Advisory LLC acquired a new stake in 3M in the first quarter valued at approximately $114,000. Quattro Financial Advisors LLC acquired a new stake in 3M in the first quarter valued at approximately $119,000. Ballew Advisors Inc acquired a new stake in 3M in the first quarter valued at approximately $122,000. SRS Capital Advisors Inc. boosted its stake in 3M by 1,652.8% in the second quarter. SRS Capital Advisors Inc. now owns 631 shares of the conglomerate’s stock valued at $124,000 after acquiring an additional 595 shares in the last quarter. Finally, Stelac Advisory Services LLC acquired a new stake in 3M in the first quarter valued at approximately $125,000. Institutional investors own 66.16% of the company’s stock.

About 3M (NYSE:MMM)

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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