Investors Purchase High Volume of 3M Call Options (MMM)

3M Company (NYSE:MMM) was the target of unusually large options trading on Wednesday. Traders purchased 25,450 call options on the stock. This represents an increase of 877% compared to the typical daily volume of 2,604 call options.

In related news, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total transaction of $351,705.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Khandpur K. Ashish sold 4,004 shares of 3M stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total value of $926,485.56. Following the completion of the sale, the vice president now owns 5,236 shares in the company, valued at $1,211,558.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MPS Loria Financial Planners LLC purchased a new position in 3M during the second quarter valued at $124,000. Hoertkorn Richard Charles purchased a new position in 3M during the third quarter valued at $126,000. Proficio Capital Partners LLC raised its stake in 3M by 156.0% during the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after buying an additional 404 shares during the last quarter. Harfst & Associates Inc. raised its stake in 3M by 17.0% during the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after buying an additional 100 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its stake in 3M by 87.5% during the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after buying an additional 350 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $258.00 price objective on the stock in a research report on Tuesday, November 7th. Goldman Sachs Group Inc reiterated a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Citigroup Inc. lifted their price objective on 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Jefferies Group LLC lifted their price objective on 3M to $262.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Bank of America Corporation lifted their price objective on 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $231.16.

3M (MMM) opened at $231.38 on Friday. The company has a market capitalization of $137,930.94, a P/E ratio of 25.88, a PEG ratio of 2.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. 3M has a one year low of $171.09 and a one year high of $238.90.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. 3M had a return on equity of 48.29% and a net margin of 17.54%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.15 EPS. analysts expect that 3M will post 9.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th will be paid a $0.0118 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Wednesday, November 22nd. 3M’s payout ratio is presently 52.51%.

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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, , 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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