Traders Sell 3M Company (MMM) on Strength (MMM)

Investors sold shares of 3M Company (NYSE:MMM) on strength during trading on Thursday. $58.74 million flowed into the stock on the tick-up and $113.91 million flowed out of the stock on the tick-down, for a money net flow of $55.17 million out of the stock. Of all companies tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $2.41 for the day and closed at $204.46

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a report on Monday, June 19th. Stifel Nicolaus restated a “hold” rating and set a $202.00 target price on shares of 3M in a research report on Wednesday, July 19th. Morgan Stanley restated an “underweight” rating and set a $191.00 target price (down from $193.00) on shares of 3M in a research report on Monday, July 10th. BidaskClub lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC restated a “buy” rating and set a $234.00 target price on shares of 3M in a research report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $206.68.

The stock has a market capitalization of $122.75 billion, a price-to-earnings ratio of 23.46 and a beta of 1.08. The firm has a 50-day moving average price of $204.44 and a 200-day moving average price of $200.01.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. The firm had revenue of $7.81 billion for the quarter, compared to analyst estimates of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. 3M’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. Equities research analysts anticipate that 3M Company will post $8.94 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be paid a dividend of $1.175 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $4.70 dividend on an annualized basis and a dividend yield of 2.28%. 3M’s payout ratio is 53.59%.

In other news, insider Frank R. Jr. Little sold 2,719 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $206.03, for a total transaction of $560,195.57. Following the sale, the insider now owns 9,010 shares of the company’s stock, valued at approximately $1,856,330.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric D. Hammes sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $206.66, for a total transaction of $295,110.48. Following the sale, the vice president now directly owns 3,066 shares in the company, valued at approximately $633,619.56. The disclosure for this sale can be found here. Insiders have sold a total of 9,112 shares of company stock worth $1,878,890 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. grew its stake in 3M by 0.6% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 4 shares during the period. Founders Capital Management LLC grew its stake in 3M by 0.4% in the 1st quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock valued at $371,000 after acquiring an additional 8 shares during the period. Baystate Wealth Management LLC grew its stake in 3M by 0.6% in the 1st quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock valued at $370,000 after acquiring an additional 11 shares during the period. Capital Management Corp VA grew its stake in 3M by 0.3% in the 1st quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock valued at $753,000 after acquiring an additional 11 shares during the period. Finally, Smith Chas P & Associates PA Cpas grew its stake in 3M by 0.7% in the 1st quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock valued at $374,000 after acquiring an additional 13 shares during the period. 66.30% of the stock is currently 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, electronics, 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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