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

Traders sold shares of 3M Co (NYSE:MMM) on strength during trading hours on Tuesday. $77.01 million flowed into the stock on the tick-up and $113.97 million flowed out of the stock on the tick-down, for a money net flow of $36.96 million out of the stock. Of all stocks tracked, 3M had the 19th highest net out-flow for the day. 3M traded up $0.78 for the day and closed at $196.58

MMM has been the topic of several research analyst reports. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research report on Wednesday, April 11th. Citigroup set a $284.00 price target on 3M and gave the stock a “buy” rating in a research report on Saturday, March 24th. Barclays cut their price target on 3M from $235.00 to $230.00 and set an “underweight” rating on the stock in a research report on Monday, March 26th. Vetr lowered 3M from a “buy” rating to a “hold” rating and set a $251.35 price target on the stock. in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada dropped their target price on 3M to $227.00 and set an “underperform” rating on the stock in a report on Wednesday, April 25th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $240.65.

The firm has a market cap of $116.66 billion, a PE ratio of 21.44, a P/E/G ratio of 1.86 and a beta of 1.16. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

3M (NYSE:MMM) last announced its quarterly earnings data 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 return on equity of 50.11% and a net margin of 12.83%. The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same quarter in the prior year, the company posted $2.16 earnings per share. 3M’s quarterly revenue was up 7.7% on a year-over-year basis. research analysts anticipate that 3M Co will post 10.4 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 12th. Investors of record on Friday, May 18th were issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Thursday, May 17th. 3M’s dividend payout ratio is presently 59.32%.

A number of hedge funds have recently made changes to their positions in MMM. Rainier Group Investment Advisory LLC acquired a new position in 3M during the first quarter worth $114,000. Quattro Financial Advisors LLC acquired a new position in 3M during the first quarter worth $119,000. Ballew Advisors Inc acquired a new position in 3M during the first quarter worth $122,000. Stelac Advisory Services LLC acquired a new position in 3M during the first quarter worth $125,000. Finally, Virtue Capital Management LLC acquired a new position in 3M during the fourth quarter worth $127,000. 65.54% of the stock is currently owned by hedge funds and other institutional investors.

About 3M

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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