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

Traders sold shares of 3M Co (NYSE:MMM) on strength during trading on Friday. $98.91 million flowed into the stock on the tick-up and $175.84 million flowed out of the stock on the tick-down, for a money net flow of $76.93 million out of the stock. Of all companies tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $2.16 for the day and closed at $244.47

A number of research firms recently commented on MMM. Deutsche Bank increased their price objective on 3M from $180.00 to $240.00 and gave the company a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered 3M from a “buy” rating to a “hold” rating in a research note on Wednesday. Argus reaffirmed a “buy” rating on shares of 3M in a research note on Friday, December 22nd. ValuEngine lowered 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Goldman Sachs Group reaffirmed a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $232.15.

The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $145,608.28, a P/E ratio of 27.32, a PEG ratio of 2.43 and a beta of 1.10.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company earned $2.15 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. research analysts expect that 3M Co will post 9.1 EPS for the current fiscal year.

In other 3M news, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Khandpur K. Ashish sold 4,004 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total value of $926,485.56. Following the completion of the sale, the vice president now directly owns 5,236 shares in the company, valued at $1,211,558.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of MMM. Private Trust Co. NA boosted its stake in 3M by 10.7% in the 2nd quarter. Private Trust Co. NA now owns 21,709 shares of the conglomerate’s stock worth $4,519,000 after buying an additional 2,097 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of 3M by 9.7% in the 2nd quarter. Capital Investment Advisors LLC now owns 10,688 shares of the conglomerate’s stock valued at $2,225,000 after purchasing an additional 948 shares in the last quarter. Appleton Partners Inc. MA lifted its stake in shares of 3M by 19.2% in the 2nd quarter. Appleton Partners Inc. MA now owns 17,593 shares of the conglomerate’s stock valued at $3,663,000 after purchasing an additional 2,832 shares in the last quarter. Confluence Investment Management LLC lifted its stake in shares of 3M by 2.6% in the 2nd quarter. Confluence Investment Management LLC now owns 493,947 shares of the conglomerate’s stock valued at $102,835,000 after purchasing an additional 12,502 shares in the last quarter. Finally, First Financial Bank Trust Division lifted its stake in shares of 3M by 5.3% in the 2nd quarter. First Financial Bank Trust Division now owns 15,105 shares of the conglomerate’s stock valued at $3,144,000 after purchasing an additional 764 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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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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