Traders sold shares of 3M Co (NYSE:MMM) on strength during trading on Tuesday. $70.97 million flowed into the stock on the tick-up and $116.79 million flowed out of the stock on the tick-down, for a money net flow of $45.82 million out of the stock. Of all stocks tracked, 3M had the 20th highest net out-flow for the day. 3M traded up $0.89 for the day and closed at $232.45
A number of analysts have weighed in on MMM shares. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Vetr downgraded 3M from a “buy” rating to a “hold” rating and set a $251.35 price target for the company. in a report on Tuesday, February 27th. ValuEngine downgraded 3M from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Deutsche Bank upgraded 3M from a “hold” rating to a “buy” rating and increased their price target for the stock from $240.00 to $275.00 in a report on Tuesday, February 13th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $254.00 price target on shares of 3M in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $254.02.
The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The company has a market cap of $141,264.52, a P/E ratio of 29.35, a P/E/G ratio of 2.20 and a beta of 1.10.
3M (NYSE:MMM) last issued its earnings results on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.07. The company 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 firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $1.88 EPS. analysts anticipate that 3M Co will post 10.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.36 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a dividend yield of 2.34%. 3M’s dividend payout ratio (DPR) is currently 68.69%.
In other news, Chairman Inge G. Thulin sold 35,236 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 253,873 shares in the company, valued at approximately $63,757,665.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nicholas C. Gangestad sold 1,681 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $249.76, for a total value of $419,846.56. Following the completion of the sale, the chief financial officer now owns 23,562 shares of the company’s stock, valued at $5,884,845.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,806 shares of company stock valued at $13,162,628. 0.58% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of MMM. Lenox Wealth Advisors Inc. boosted its stake in 3M by 16,300.0% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 489 shares during the last quarter. Horan Capital Management acquired a new position in 3M during the 4th quarter valued at about $123,000. Virtue Capital Management LLC acquired a new position in 3M during the 4th quarter valued at about $127,000. Sawyer & Company Inc acquired a new position in 3M during the 4th quarter valued at about $138,000. Finally, Field & Main Bank acquired a new position in 3M during the 4th quarter valued at about $140,000. Institutional investors own 66.85% of the company’s stock.
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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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