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

Investors sold shares of 3M Co (NYSE:MMM) on strength during trading on Friday. $71.28 million flowed into the stock on the tick-up and $145.65 million flowed out of the stock on the tick-down, for a money net flow of $74.37 million out of the stock. Of all companies tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $1.02 for the day and closed at $237.02

Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Vetr raised 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 price objective for the company in a report on Monday, February 12th. Barclays assumed coverage on 3M in a report on Thursday, February 15th. They issued an “underweight” rating and a $235.00 price objective for the company. Deutsche Bank raised 3M from a “hold” rating to a “buy” rating and increased their price objective for the company from $240.00 to $275.00 in a report on Tuesday, February 13th. Finally, ValuEngine downgraded 3M from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $254.25.

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. The stock has a market cap of $141,145.41, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08.

3M (NYSE:MMM) last issued its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.07. The firm had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. equities analysts anticipate that 3M Co will post 10.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a $1.36 dividend. This is a boost from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $5.44 annualized dividend and a yield of 2.30%. 3M’s dividend payout ratio is presently 68.69%.

In other 3M news, Chairman Inge G. Thulin sold 35,236 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the completion of the transaction, the chairman now owns 253,873 shares in the company, valued at $63,757,665.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ippocratis Vrohidis sold 225 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total value of $56,178.00. The disclosure for this sale can be found here. Insiders sold 49,673 shares of company stock valued at $12,420,577 in the last quarter. 0.58% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Green Square Capital LLC raised its position in 3M by 94.6% in the fourth quarter. Green Square Capital LLC now owns 5,172 shares of the conglomerate’s stock worth $1,217,000 after acquiring an additional 2,514 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in 3M by 10.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 101,193 shares of the conglomerate’s stock worth $23,818,000 after acquiring an additional 9,240 shares in the last quarter. Ackerman Capital Advisors LLC purchased a new position in shares of 3M in the fourth quarter valued at $246,000. Wagner Wealth Management LLC purchased a new position in shares of 3M in the fourth quarter valued at $412,000. Finally, KCM Investment Advisors LLC increased its position in shares of 3M by 0.7% in the fourth quarter. KCM Investment Advisors LLC now owns 110,623 shares of the conglomerate’s stock valued at $26,037,000 after buying an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 66.17% 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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