It has been reported that multiple insider activity took place at 3M Company (MMM). Exec Chairman THULIN INGE G sold 5,485 shares for $267,680 in transaction occurred on 2019/03/29. After making this transaction, Exec Chairman owns a direct stake of 4 shares, worth $58,198,897, as per the last closing price. On 2019/03/29 THULIN INGE G, Exec Chairman at MMM, dumped 1,192 shares at an average price of $208.95 per share. The selling total is valued at $57,939,732.
Exec Chairman, THULIN INGE G had divested 5,863 shares for $289,043 through a trade on 2019/03/29. Following this activity, the insider holds 5 shares worth $62,843,640 as of recent close.
Vanguard Total Stock Market Index Fund revealed as top hedge fund owner in 3M Company (MMM) with a stake of over 14.92M MMM shares as of September 29, with a market value of approx. $3.14B as of today. The second largest holder, Vanguard 500 Index Fund, with 10.92M shares which equates to $2.3B worth of the stock. At third is SPDR S&P 500 ETF Trust, which stood pat with 6.51M shares, a 1.07% position in 3M Company, worth $1.35B. The insider holding in stood at 0.1% while institutions hold 68.7%.
3M Company (NYSE:MMM) rose 1.82% in recent trade and currently has a stock-market value of $126.26B. The shares finished at $217.42, after trading as low as $214.35 earlier in the session. It hit an intraday high Friday at $217.49. Trading activity significantly improved as the volume at ready counter increased to 1,922,409 shares versus 1,850,235 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 2,155,059 shares. The stock is now 22.93% above against its bear-market low of $176.87 on December 26, 2018. It has retreated -1.96% since it’s 52-week high of $221.69 reached in April. Now the market price is up 0.46% on the year and up 14.11% YTD.
MMM stock’s 50 day simple moving average (SMA 50) price is $207.45 and its 200-day simple moving average (SMA 200) price is $202.47. The company’s stock currently has a total float of 574.92M shares. Its weekly volatility is hovering around 1.11% and felt 1.27% volatility in price over a month. On the upside, the share price will test short term resistance at around $218.49. On a downside, the stock is likely to find some support, which begins at $215.35. The failure to get near-term support could push it to $213.28.
It had seen a new analyst call from Gordon Haskett, which initiated the stock at Buy on October 12. Analysts at Credit Suisse, started covering the stock on October 12 with a Outperform rating. Analysts at Morgan Stanley, made their first call about the stock on August 21, recommending it is Equal-Weight. Jefferies analysts came out with bearish views on May 16 when the call was made. They think the stock is now Hold compared to to their prior call for Buy.
When looking at valuations, 3M Company (MMM) has a cheap P/E of 23.65x as compared to industry average of 31.02x. Moreover, it trades for 19.09 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 12.89x price/book and 3.85x price/sales. Compared to others, 3M Company is in a different league with regards to profitability, having net margins of 16.3%. To put some perspective around this, the industry’s average net margin is 4.63%. MMM’s ROE is 51.7%, which is also considerably better than the industry’s ROE of 7.69%. It’s also very liquid in the near term, with a current ratio of 1.9. The stock has a debt/capital of 1.49.
Shares of MMM have gained 12.5% since the company’s most recent earnings report. Over the past 12 fiscal quarters, 3M Company (NYSE:MMM) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 2 quarters (16%), whereas at 3 occasion EPS met analyst expectations. MMM last reported earnings that exceeded expectations. The company raked in $2.31 per share, 58.22% change on the same period last year. That was better than consensus for $2.28. Revenue for the recent quarter stood at $7.95 billion, down -1% on last year and above the $7.86 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $8.13 billion to $8.4 billion, which should be compared with $8.88 billion generated last year. EPS is seen in a range of $2.53 to $2.75, against the $2.85 reported a year ago.