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

Traders sold shares of 3M Company (NYSE:MMM) on strength during trading hours on Wednesday. $65.03 million flowed into the stock on the tick-up and $171.70 million flowed out of the stock on the tick-down, for a money net flow of $106.67 million out of the stock. Of all stocks tracked, 3M had the 9th highest net out-flow for the day. 3M traded up $0.41 for the day and closed at $238.67

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada restated a “hold” rating and issued a $209.00 price target on shares of 3M in a research note on Friday, September 15th. Jefferies Group raised their price target on 3M to $262.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. J P Morgan Chase & Co cut 3M from a “neutral” rating to an “underweight” rating and raised their price target for the company from $185.00 to $201.00 in a report on Wednesday, September 20th. Stifel Nicolaus raised their price target on 3M from $220.00 to $244.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, Morgan Stanley raised their price target on 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $231.16.

The firm has a market cap of $142,505.20, a PE ratio of 26.73, a PEG ratio of 2.59 and a beta of 1.10. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.15 EPS. sell-side analysts anticipate that 3M Company will post 9.09 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be paid a dividend of $0.0118 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio is currently 52.51%.

In related news, insider Jon T. Lindekugel sold 400 shares of 3M stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total transaction of $92,024.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction on Friday, October 27th. The stock was sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,804 shares of company stock worth $5,303,706 over the last quarter. 0.58% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in MMM. Affinity Investment Advisors LLC acquired a new position in 3M in the first quarter valued at $351,000. Intrust Bank NA increased its stake in shares of 3M by 4.6% during the first quarter. Intrust Bank NA now owns 1,748 shares of the conglomerate’s stock worth $334,000 after acquiring an additional 77 shares during the period. Main Street Research LLC increased its stake in shares of 3M by 1.1% during the first quarter. Main Street Research LLC now owns 1,984 shares of the conglomerate’s stock worth $380,000 after acquiring an additional 22 shares during the period. Lincoln National Corp increased its stake in shares of 3M by 18.4% during the first quarter. Lincoln National Corp now owns 4,944 shares of the conglomerate’s stock worth $946,000 after acquiring an additional 767 shares during the period. Finally, Thomaspartners Inc. increased its stake in shares of 3M by 7.7% during the first quarter. Thomaspartners Inc. now owns 997,295 shares of the conglomerate’s stock worth $190,812,000 after acquiring an additional 71,291 shares during the period. Hedge funds and other institutional investors own 66.33% of the company’s stock.

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About 3M

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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