What’s Next for 3M Co After Today’s Bearish Options Activity?

 What's Next for 3M Co After Today's Bearish Options Activity?

In today’s session 3M Co (MMM) recorded an unusually high (450) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious MMM decrease. With 450 contracts traded and 23484 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: MMM170120P00110000 closed last at: $0.32 or 8.6% down. About 456,023 shares traded hands. 3M Co (NYSE:MMM) has risen 4.80% since March 15, 2016 and is uptrending. It has underperformed by 0.68% the S&P500.

Analysts await 3M Co (NYSE:MMM) to report earnings on October, 27. They expect $2.14 EPS, up 4.39% or $0.09 from last year’s $2.05 per share. MMM’s profit will be $1.29B for 19.91 P/E if the $2.14 EPS becomes a reality. After $2.08 actual EPS reported by 3M Co for the previous quarter, Wall Street now forecasts 2.88% EPS growth.

3M Co (NYSE:MMM) Ratings Coverage

Out of 10 analysts covering 3M (NYSE:MMM), 4 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 40% are positive. 3M has been the topic of 28 analyst reports since July 24, 2015 according to StockzIntelligence Inc. As per Friday, July 24, the company rating was maintained by UBS. As per Monday, October 5, the company rating was maintained by Barclays Capital. As per Wednesday, December 16, the company rating was maintained by UBS. Jefferies maintained it with “Buy” rating and $187 target price in Tuesday, April 12 report. On Wednesday, December 16 the stock rating was maintained by RBC Capital Markets with “Underperform”. The stock has “Buy” rating given by Citigroup on Tuesday, April 19. The firm earned “Outperform” rating on Tuesday, March 15 by Credit Suisse. As per Friday, October 23, the company rating was maintained by RBC Capital Markets. The stock of 3M Co (NYSE:MMM) earned “Outperform” rating by Credit Suisse on Friday, September 25. Citigroup initiated the shares of MMM in a report on Thursday, January 21 with “Buy” rating.

According to Zacks Investment Research, “3M Company is a diversified technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. They are an integrated enterprise characterized by substantial intercompany cooperation in research, manufacturing and marketing of products.”

Insitutional Activity: The institutional sentiment decreased to 0.78 in Q2 2016. Its down 0.18, from 0.96 in 2016Q1. The ratio is negative, as 60 funds sold all 3M Co shares owned while 594 reduced positions. 48 funds bought stakes while 464 increased positions. They now own 386.81 million shares or 1.17% less from 391.41 million shares in 2016Q1.
Ubs Asset Americas Incorporated, a Illinois-based fund reported 1.95 million shares. The Texas-based Adell Harriman Carpenter Inc has invested 0% in 3M Co (NYSE:MMM). First Manhattan Com has 756,520 shares for 0.81% of their US portfolio. Da Davidson Co holds 101,539 shares or 0.52% of its portfolio. Patriot Wealth Mgmt Inc holds 1.21% of its portfolio in 3M Co (NYSE:MMM) for 34,893 shares. Supplemental Annuity Collective Of Nj has 9,619 shares for 0.84% of their US portfolio. Moreover, Tompkins Finance has 0.86% invested in 3M Co (NYSE:MMM) for 16,543 shares. Hall Laurie J Trustee last reported 43,655 shares in the company. Nomura Asset Limited has invested 0.54% of its portfolio in 3M Co (NYSE:MMM). Pictet Asset Ltd has invested 0.59% of its portfolio in 3M Co (NYSE:MMM). The Connecticut-based Webster Retail Bank N A has invested 0.48% in 3M Co (NYSE:MMM). Ramsay Stattman Vela And Price Inc last reported 41,626 shares in the company. Manchester Ltd Limited Liability Company has invested 0.15% of its portfolio in 3M Co (NYSE:MMM). Reilly Herbert Faulkner Iii has 21,431 shares for 2.76% of their US portfolio. Concert Wealth owns 4,949 shares or 0.12% of their US portfolio.

Insider Transactions: Since April 19, 2016, the stock had 0 buys, and 12 selling transactions for $25.39 million net activity. The insider THULIN INGE G sold 26,153 shares worth $4.45 million. On Tuesday, April 19 Roman Michael F sold $255,000 worth of the stock or 1,500 shares. Little Frank R Jr. sold 3,778 shares worth $674,198. On Friday, July 29 Keel Paul A sold $567,284 worth of the stock or 3,180 shares. On Monday, August 1 the insider Bauman James L sold $1.62M. 10,606 3M Co (NYSE:MMM) shares with value of $1.80M were sold by Singh Jesse G. Ashish Khandpur K also sold $299,515 worth of 3M Co (NYSE:MMM) shares.

3M Company is a technology company. The Firm operates through five divisions. The company has a market cap of $102.96 billion. The Company’s Industrial segment serves markets, such as automotive original equipment maker and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. It has a 21.73 P/E ratio. The Company’s Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.

MMM Company Profile

3M Company (3M), incorporated on June 25, 1929, is a technology company. The Firm operates through five divisions: Industrial, Safety and Graphics, Health Care; Electronics and Energy, and Consumer. 3M products are sold through various distribution channels, including directly to users and through wholesalers, retailers, jobbers, distributors and dealers in a range of trades in various countries around the world. The Firm operates over 90 manufacturing facilities in approximately 30 states. The Firm operates over 130 manufacturing and converting facilities in approximately 40 countries outside the United States.

More news for 3M Co (NYSE:MMM) were recently published by: Pennrecord.com, which released: “3M Company, others accused of water contamination” on October 18, 2016. Profitconfidential.com‘s article titled: “3M Co: MMM Stock is Simply Ready to Fly” and published on September 30, 2016 is yet another important article.

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