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

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Traders sold shares of 3M Co (NYSE:MMM) on strength during trading hours on Thursday. $91.30 million flowed into the stock on the tick-up and $158.59 million flowed out of the stock on the tick-down, for a money net flow of $67.29 million out of the stock. Of all equities tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $1.31 for the day and closed at $209.61

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a report on Wednesday, December 19th. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 target price (down previously from $230.00) on shares of 3M in a report on Thursday, January 3rd. Barclays dropped their target price on 3M from $190.00 to $189.00 and set an “underweight” rating for the company in a report on Thursday, January 3rd. reiterated a “sell” rating on shares of 3M in a report on Tuesday, February 12th. Finally, Morgan Stanley dropped their target price on 3M from $201.00 to $199.00 and set an “equal weight” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $214.65.

The company has a quick ratio of 1.29, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $120.69 billion, a PE ratio of 19.57, a P/E/G ratio of 1.94 and a beta of 1.06.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.03. 3M had a return on equity of 57.70% and a net margin of 16.33%. The firm had revenue of $7.95 billion during the quarter, compared to analyst estimates of $7.87 billion. During the same period last year, the company earned $2.10 EPS. 3M’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that 3M Co will post 10.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 15th were paid a dividend of $1.44 per share. This is a positive change from 3M’s previous quarterly dividend of $1.36. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Thursday, February 14th. 3M’s dividend payout ratio (DPR) is currently 55.07%.

In other 3M news, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the completion of the sale, the chairman now directly owns 230,458 shares of the company’s stock, valued at approximately $46,091,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul A. Keel sold 9,410 shares of 3M stock in a transaction on Friday, February 8th. The shares were sold at an average price of $199.14, for a total value of $1,873,907.40. Following the sale, the insider now directly owns 23,009 shares of the company’s stock, valued at $4,582,012.26. The disclosure for this sale can be found here. Insiders have sold a total of 71,551 shares of company stock valued at $14,335,468 over the last three months. 0.72% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MMM. Oregon Public Employees Retirement Fund raised its position in 3M by 17,350.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock valued at $141,000 after purchasing an additional 26,742,875 shares in the last quarter. Norges Bank bought a new stake in 3M during the 4th quarter valued at $918,305,000. BlackRock Inc. raised its position in 3M by 3.0% during the 4th quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock valued at $7,435,433,000 after purchasing an additional 1,152,714 shares in the last quarter. Rehmann Capital Advisory Group raised its position in 3M by 14,237.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 939,688 shares of the conglomerate’s stock valued at $8,941,033,000 after purchasing an additional 933,134 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in 3M by 2,768.8% during the 4th quarter. Bessemer Group Inc. now owns 578,657 shares of the conglomerate’s stock valued at $110,258,000 after purchasing an additional 558,486 shares in the last quarter. 66.85% of the stock is owned by institutional investors and hedge funds.

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About 3M (NYSE:MMM)

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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