Investors Buy 3M (MMM) on Weakness

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Investors bought shares of 3M Co (NYSE:MMM) on weakness during trading on Monday. $116.53 million flowed into the stock on the tick-up and $74.84 million flowed out of the stock on the tick-down, for a money net flow of $41.69 million into the stock. Of all stocks tracked, 3M had the 18th highest net in-flow for the day. 3M traded down ($1.20) for the day and closed at $195.52

MMM has been the topic of several recent research reports. Barclays cut their target price on shares of 3M from $235.00 to $230.00 and set an “underweight” rating on the stock in a research report on Monday, March 26th. UBS Group dropped their price target on shares of 3M from $250.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, April 26th. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. ValuEngine downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Finally, Citigroup set a $263.00 price target on shares of 3M and gave the stock a “buy” rating in a research report on Saturday, June 9th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $240.65.

The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.17 and a current ratio of 1.65. The stock has a market cap of $116.08 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 24th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.50. 3M had a net margin of 12.83% and a return on equity of 50.11%. The company had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the previous year, the company earned $2.16 EPS. 3M’s quarterly revenue was up 7.7% compared to the same quarter last year. equities research analysts expect that 3M Co will post 10.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Investors of record on Friday, May 18th were given a dividend of $1.36 per share. The ex-dividend date was Thursday, May 17th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.78%. 3M’s payout ratio is presently 59.32%.

Institutional investors have recently added to or reduced their stakes in the stock. Rainier Group Investment Advisory LLC acquired a new position in shares of 3M during the 1st quarter valued at $114,000. Virtue Capital Management LLC acquired a new position in shares of 3M during the 4th quarter valued at $127,000. Ballew Advisors Inc acquired a new position in shares of 3M during the 1st quarter valued at $122,000. Quattro Financial Advisors LLC acquired a new position in shares of 3M during the 1st quarter valued at $119,000. Finally, Stelac Advisory Services LLC acquired a new position in shares of 3M during the 1st quarter valued at $125,000. Institutional investors own 65.54% of the company’s stock.

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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