Investors Sell 3M Co. (MMM) on Strength (MMM)
Investors sold shares of 3M Co. (NYSE:MMM) on strength during trading on Tuesday. $60.31 million flowed into the stock on the tick-up and $74.91 million flowed out of the stock on the tick-down, for a money net flow of $14.60 million out of the stock. Of all stocks tracked, 3M had the 0th highest net out-flow for the day. 3M traded up $0.88 for the day and closed at $177.60
A number of equities research analysts recently issued reports on MMM shares. Morgan Stanley restated a “sell” rating on shares of 3M in a report on Friday, June 10th. Sanford C. Bernstein restated a “market perform” rating on shares of 3M in a report on Monday, June 27th. Jefferies Group restated a “buy” rating on shares of 3M in a report on Wednesday, July 6th. Credit Suisse Group AG restated a “buy” rating on shares of 3M in a report on Sunday, July 10th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $164.00 target price on shares of 3M in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. 3M has an average rating of “Hold” and an average target price of $165.18.
The firm’s 50-day moving average is $178.81 and its 200 day moving average is $172.06. The stock has a market capitalization of $107.34 billion, a price-to-earnings ratio of 22.67 and a beta of 1.07.
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3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.01. 3M had a net margin of 16.29% and a return on equity of 41.84%. The company earned $7.70 billion during the quarter, compared to analyst estimates of $7.73 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. Analysts anticipate that 3M Co. will post $8.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Wednesday, August 17th. 3M’s dividend payout ratio (DPR) is 56.63%.
In other news, insider Paul A. Keel sold 3,180 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $178.39, for a total value of $567,280.20. Following the completion of the sale, the insider now directly owns 9,961 shares of the company’s stock, valued at $1,776,942.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Khandpur K. Ashish sold 1,679 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $178.39, for a total transaction of $299,516.81. Following the completion of the sale, the vice president now directly owns 1,011 shares of the company’s stock, valued at $180,352.29. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of MMM. Vanguard Group Inc. raised its stake in 3M by 2.0% in the second quarter. Vanguard Group Inc. now owns 42,183,048 shares of the company’s stock worth $7,387,096,000 after buying an additional 822,712 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in 3M by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,477,856 shares of the company’s stock worth $2,885,602,000 after buying an additional 527,158 shares during the period. FMR LLC raised its stake in 3M by 5.1% in the second quarter. FMR LLC now owns 8,774,300 shares of the company’s stock worth $1,536,555,000 after buying an additional 425,320 shares during the period. BlackRock Fund Advisors raised its stake in 3M by 1.5% in the second quarter. BlackRock Fund Advisors now owns 8,004,556 shares of the company’s stock worth $1,401,758,000 after buying an additional 121,033 shares during the period. Finally, BlackRock Group LTD raised its stake in 3M by 9.1% in the second quarter. BlackRock Group LTD now owns 5,446,580 shares of the company’s stock worth $953,805,000 after buying an additional 453,554 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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