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

Investors sold shares of 3M Co (NYSE:MMM) on strength during trading on Wednesday. $51.10 million flowed into the stock on the tick-up and $78.09 million flowed out of the stock on the tick-down, for a money net flow of $26.99 million out of the stock. Of all stocks tracked, 3M had the 26th highest net out-flow for the day. 3M traded up $0.31 for the day and closed at $195.83

MMM has been the topic of a number of research reports. Vetr raised shares of 3M from a “buy” rating to a “strong-buy” rating and set a $256.47 target price on the stock in a research report on Friday, March 23rd. 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. JPMorgan Chase & Co. dropped their target price on shares of 3M from $227.00 to $221.00 and set an “underweight” rating on the stock in a research report on Thursday, April 26th. Royal Bank of Canada dropped their target price on shares of 3M to $227.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 25th. Finally, ValuEngine lowered shares of 3M from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. 3M presently has a consensus rating of “Hold” and a consensus target price of $240.65.

The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.17 and a current ratio of 1.65. The company has a market capitalization of $116.08 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $2.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $2.50. 3M had a net margin of 12.83% and a return on equity of 50.11%. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the previous year, the company earned $2.16 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. equities research analysts expect that 3M Co will post 10.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 12th. Shareholders of record on Friday, May 18th were paid a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $5.44 dividend on an annualized basis and a yield of 2.78%. 3M’s dividend payout ratio is currently 59.32%.

Large investors have recently modified their holdings of the company. Rainier Group Investment Advisory LLC acquired a new stake in shares of 3M in the 1st quarter valued at $114,000. Virtue Capital Management LLC acquired a new stake in shares of 3M in the 4th quarter valued at $127,000. Ballew Advisors Inc acquired a new stake in shares of 3M in the 1st quarter valued at $122,000. Quattro Financial Advisors LLC acquired a new stake in shares of 3M in the 1st quarter valued at $119,000. Finally, Stelac Advisory Services LLC acquired a new stake in shares of 3M in the 1st quarter valued at $125,000. Institutional investors own 65.54% of the company’s stock.

3M Company Profile

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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