3M Co (NYSE:MMM) Short Interest Update

Share on StockTwits

3M Co (NYSE:MMM) saw a large growth in short interest in November. As of November 29th, there was short interest totalling 10,240,000 shares, a growth of 7.0% from the November 14th total of 9,570,000 shares. Based on an average daily trading volume, of 2,720,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 1.8% of the shares of the stock are sold short.

MMM traded up $0.23 during trading on Friday, reaching $168.79. 2,075,053 shares of the company’s stock were exchanged, compared to its average volume of 2,330,980. 3M has a one year low of $150.58 and a one year high of $219.75. The company has a current ratio of 2.30, a quick ratio of 1.79 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $97.03 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.96 and a beta of 1.09. The firm has a fifty day moving average price of $169.51 and a two-hundred day moving average price of $166.91.

3M (NYSE:MMM) last posted its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.09. 3M had a net margin of 15.48% and a return on equity of 54.02%. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period in the previous year, the firm posted $2.58 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts expect that 3M will post 9.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, November 21st. 3M’s payout ratio is 55.07%.

A number of equities analysts recently issued reports on the stock. Barclays lowered their price objective on shares of 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Citigroup cut shares of 3M from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Monday, December 9th. Deutsche Bank upped their price objective on shares of 3M from $160.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 price objective for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $173.50.

In related news, EVP Khandpur K. Ashish sold 3,362 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $174.20, for a total transaction of $585,660.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Julie L. Bushman sold 6,879 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $165.09, for a total transaction of $1,135,654.11. Insiders sold a total of 13,216 shares of company stock valued at $2,233,940 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MMM. Resources Management Corp CT ADV bought a new stake in shares of 3M in the 3rd quarter valued at $461,000. Institutional & Family Asset Management LLC boosted its stake in shares of 3M by 5.1% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 20,644 shares of the conglomerate’s stock valued at $3,394,000 after purchasing an additional 995 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of 3M in the 3rd quarter valued at $2,100,000. Prestige Wealth Management Group LLC boosted its stake in shares of 3M by 73.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Cleararc Capital Inc. boosted its stake in shares of 3M by 1.0% in the 3rd quarter. Cleararc Capital Inc. now owns 8,679 shares of the conglomerate’s stock valued at $1,427,000 after purchasing an additional 82 shares during the last quarter. 66.55% of the stock is currently owned by hedge funds and other institutional investors.

About 3M

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.

Featured Article: What is the definition of a trade war?

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Court Place Advisors LLC Trims Stock Holdings in Colgate-Palmolive
Court Place Advisors LLC Trims Stock Holdings in Colgate-Palmolive
Court Place Advisors LLC Sells 1,131 Shares of AFLAC Incorporated
Court Place Advisors LLC Sells 1,131 Shares of AFLAC Incorporated
Dover Corp  Shares Sold by Court Place Advisors LLC
Dover Corp Shares Sold by Court Place Advisors LLC
Court Place Advisors LLC Has $2.22 Million Stake in Novartis AG
Court Place Advisors LLC Has $2.22 Million Stake in Novartis AG
Court Place Advisors LLC Grows Stock Position in Biogen Inc
Court Place Advisors LLC Grows Stock Position in Biogen Inc
Court Place Advisors LLC Reduces Position in SEI Investments
Court Place Advisors LLC Reduces Position in SEI Investments


© 2006-2020 Ticker Report