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

Investors sold shares of 3M Co (NYSE:MMM) on strength during trading on Monday. $128.54 million flowed into the stock on the tick-up and $186.57 million flowed out of the stock on the tick-down, for a money net flow of $58.03 million out of the stock. Of all stocks tracked, 3M had the 31st highest net out-flow for the day. 3M traded up $1.80 for the day and closed at $236.67

A number of brokerages have recently commented on MMM. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Barclays began coverage on 3M in a research report on Thursday. They set an “underweight” rating and a $235.00 price objective for the company. Stifel Nicolaus boosted their price objective on 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Goldman Sachs Group reissued a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Finally, Citigroup boosted their price objective on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Four analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus price target of $254.25.

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 stock has a market capitalization of $140,940.00, a price-to-earnings ratio of 25.81, a PEG ratio of 2.20 and a beta of 1.08.

3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 earnings per share. research analysts anticipate that 3M Co will post 10.59 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.30%. This is an increase from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 15th. 3M’s dividend payout ratio is 59.32%.

In other news, Chairman Inge G. Thulin sold 35,236 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 253,873 shares of the company’s stock, valued at $63,757,665.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ippocratis Vrohidis sold 225 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were 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 over the last three months. Corporate insiders own 0.58% of the company’s stock.

Several hedge funds have recently bought and sold shares of MMM. Lenox Wealth Advisors Inc. boosted its holdings in shares of 3M by 16,300.0% in the fourth quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 489 shares during the period. Horan Capital Management purchased a new stake in shares of 3M during the fourth quarter worth approximately $123,000. Hoertkorn Richard Charles purchased a new stake in shares of 3M during the third quarter worth approximately $126,000. Virtue Capital Management LLC purchased a new stake in shares of 3M during the fourth quarter worth approximately $127,000. Finally, Sawyer & Company Inc purchased a new stake in shares of 3M during the fourth quarter worth approximately $138,000. 66.17% of the stock is owned by institutional investors and hedge funds.

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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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