Is Buying 3M Co Here a Winning Strategy? Option Traders Like The Stock

 Is Buying 3M Co Here a Winning Strategy? Option Traders Like The Stock

In today’s session 3M Co (MMM) registered an unusually high (995) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious MMM increase. With 995 contracts traded and 24174 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: MMM170120C00180000 closed last at: $0.68 or 6.3% up. About 753,683 shares traded hands. 3M Co (NYSE:MMM) has declined 0.87% since March 30, 2016 and is downtrending. It has underperformed by 3.88% the S&P500.

3M Co (NYSE:MMM) Ratings Coverage

Out of 10 analysts covering 3M (NYSE:MMM), 5 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 50% are positive. 3M has been the topic of 30 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Bernstein maintained 3M Co (NYSE:MMM) rating on Wednesday, March 30. Bernstein has “Market Perform” rating and $170 price target. The firm has “Underperform” rating given on Friday, July 24 by RBC Capital Markets. UBS maintained 3M Co (NYSE:MMM) rating on Friday, July 24. UBS has “Buy” rating and $185 price target. On Friday, September 25 the stock rating was upgraded by Credit Suisse to “Outperform”. The stock has “Underweight” rating given by Morgan Stanley on Wednesday, March 30. On Wednesday, October 26 the stock rating was maintained by RBC Capital Markets with “Underperform”. The firm earned “Underperform” rating on Tuesday, August 4 by RBC Capital Markets. The rating was maintained by UBS on Wednesday, December 16 with “Buy”. The stock of 3M Co (NYSE:MMM) earned “Buy” rating by UBS on Wednesday, March 30. The stock of 3M Co (NYSE:MMM) has “Hold” rating given on Tuesday, August 25 by Deutsche Bank.

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 2016 Q2. Its down 0.18, from 0.96 in 2016Q1. The ratio fall, 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.
Osborn Rohs Williams & Donohoe has 15,468 shares for 0.53% of their US portfolio. Marathon Asset Limited Liability Partnership reported 373,578 shares or 1.39% of all its holdings. Hengehold Capital Limited Company has 3,361 shares for 0.19% of their US portfolio. First Fiduciary Invest Counsel Inc holds 3.31% or 95,799 shares in its portfolio. Moreover, Donaldson Cap Management Limited Liability Com has 0.1% invested in 3M Co (NYSE:MMM) for 3,924 shares. Kopp Advsr Llc has 6,676 shares for 0.62% of their US portfolio. Jfs Wealth Advisors Limited Liability Corp has 145 shares for 0.01% of their US portfolio. Cognios Cap Limited Liability Corporation holds 2.89% of its portfolio in 3M Co (NYSE:MMM) for 51,833 shares. Nomura Inc holds 0.03% of its portfolio in 3M Co (NYSE:MMM) for 47,368 shares. Cincinnati Insurance accumulated 3% or 521,700 shares. The California-based California Pub Employees Retirement System has invested 0.5% in 3M Co (NYSE:MMM). Nationwide Fund Advisors holds 223,214 shares or 0.17% of its portfolio. Ridgeworth Capital Management Ltd Limited Liability Company accumulated 1,536 shares or 0% of the stock. First Trust L P has 151,199 shares for 0.08% of their US portfolio. Johnson Invest Counsel holds 0.99% or 171,053 shares in its portfolio.

Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 9 sales for $18.70 million net activity. $3.25 million worth of shares were sold by Singh Jesse G on Monday, May 2. 1,679 shares were sold by Ashish Khandpur K, worth $299,515. THULIN INGE G had sold 26,153 shares worth $4.45M. Bauman James L had sold 9,066 shares worth $1.62M on Monday, August 1. 17,996 shares were sold by Delgado Joaquin, worth $3.00 million. $434,950 worth of 3M Co (NYSE:MMM) was sold by Gangestad Nicholas C. Another trade for 3,778 shares valued at $674,198 was made by Little Frank R Jr. on Friday, July 29.

3M Company is a technology company. The Firm operates through five divisions. The company has a market cap of $99.51 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 20.8 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 important recent 3M Co (NYSE:MMM) news were published by: Bloomberg.com which released: “3M Cuts Profit Outlook Amid Surprise Weakness in Health Care” on October 25, 2016, also Reuters.com published article titled: “Post-it maker 3M trims forecasts for second time”, Wsj.com published: “3M Earnings Preview: What to Watch” on October 24, 2016. More interesting news about 3M Co (NYSE:MMM) was released by: Bizjournals.com and their article: “3M expands patent infringement lawsuit scope against this local company” with publication date: October 19, 2016.

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