3M Sees Unusually High Options Volume (NYSE:MMM)

3M (NYSE:MMM - Get Free Report) was the target of some unusual options trading on Tuesday. Stock investors acquired 51,412 call options on the company. This is an increase of 150% compared to the average volume of 20,536 call options.

Analyst Ratings Changes

Several research analysts have commented on the company. Argus raised 3M from a "hold" rating to a "buy" rating and set a $145.00 price target on the stock in a research report on Tuesday, July 30th. Morgan Stanley started coverage on shares of 3M in a research report on Friday, September 6th. They set an "underweight" rating and a $125.00 target price on the stock. Citigroup increased their price target on shares of 3M from $100.00 to $133.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Finally, Wells Fargo & Company increased their target price on shares of 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, 3M has an average rating of "Hold" and a consensus target price of $133.87.

Insider Activity at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company's stock, valued at $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now owns 174,036 shares of the company's stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MMM. Tributary Capital Management LLC bought a new position in 3M in the 1st quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in shares of 3M in the second quarter valued at about $28,000. Daymark Wealth Partners LLC lifted its position in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after acquiring an additional 269 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Price Performance

Shares of 3M stock traded down $3.11 during midday trading on Tuesday, hitting $131.73. 13,031,580 shares of the company were exchanged, compared to its average volume of 4,938,824. The firm has a 50 day simple moving average of $133.03 and a 200-day simple moving average of $113.46. 3M has a 52 week low of $71.12 and a 52 week high of $141.34. The firm has a market cap of $72.89 billion, a P/E ratio of -10.36, a PEG ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same period last year, the business earned $2.17 earnings per share. Research analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, August 26th. 3M's payout ratio is -22.01%.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.