Aggressive’ Bullish Options Activity Seen in 3M Co

 Aggressive' Bullish Options Activity Seen in 3M Co

In today’s session 3M Co (MMM) registered an unusually high (488) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious MMM increase. With 488 contracts traded and 18164 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MMM161216C00170000 closed last at: $3.35 or 15.2% down. About 373,598 shares traded hands. 3M Co (NYSE:MMM) has risen 4.62% since April 11, 2016 and is uptrending. It has underperformed by 1.53% 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. $194 is the highest target while $135 is the lowest. The $171.75 average target is -1.15% below today’s ($173.75) stock price. 3M has been the topic of 30 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Morgan Stanley maintained the stock with “Underweight” rating in Wednesday, March 30 report. The stock of 3M Co (NYSE:MMM) has “Outperform” rating given on Friday, September 25 by Credit Suisse. The firm has “Hold” rating by Deutsche Bank given on Tuesday, August 25. As per Monday, October 5, the company rating was maintained by Barclays Capital. The rating was maintained by Bernstein with “Market Perform” on Wednesday, March 30. RBC Capital Markets maintained the shares of MMM in a report on Tuesday, August 4 with “Underperform” rating. The rating was maintained by RBC Capital Markets with “Underperform” on Friday, October 23. UBS maintained it with “Buy” rating and $190 target price in Wednesday, March 30 report. On Tuesday, April 12 the stock rating was maintained by Jefferies with “Buy”. The firm has “Overweight” rating given on Monday, October 24 by Barclays Capital.

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 turned 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.
Pine River Limited Partnership accumulated 6,482 shares or 0.01% of the stock. The Pennsylvania-based Rodgers Brothers Incorporated has invested 1.06% in 3M Co (NYSE:MMM). Krasney Limited Liability holds 0.27% of its portfolio in 3M Co (NYSE:MMM) for 6,557 shares. Raymond James Tru Na accumulated 64,390 shares or 0.95% of the stock. Moreover, D E Shaw And has 0.03% invested in 3M Co (NYSE:MMM) for 91,388 shares. Anchor Capital Advisors Ltd Com accumulated 0.6% or 134,850 shares. Sun Life Financial accumulated 0.07% or 3,521 shares. Lvm Mi reported 16,449 shares or 0.83% of all its holdings. Portland Glob Advsr Ltd Com last reported 9,033 shares in the company. Hanseatic Services accumulated 0.53% or 8,013 shares. Yhb Advsrs, a Connecticut-based fund reported 14,395 shares. Teachers Insurance & Annuity Association Of America has 0.44% invested in the company for 57,400 shares. Boston Common Asset Mgmt Limited Liability Company holds 0.42% of its portfolio in 3M Co (NYSE:MMM) for 41,397 shares. Windsor Capital Mgmt Lc accumulated 4,063 shares or 0.42% of the stock. First Merchants Corp accumulated 0.93% or 16,142 shares.

Insider Transactions: Since May 12, 2016, the stock had 0 insider purchases, and 6 selling transactions for $5.16 million net activity. Singh Jesse G sold $5.96M worth of stock. $674,198 worth of shares were sold by Little Frank R Jr. on Friday, July 29. Bushman Julie L also sold $1.80 million worth of 3M Co (NYSE:MMM) shares. Keel Paul A also sold $567,284 worth of 3M Co (NYSE:MMM) shares. Ashish Khandpur K had sold 1,679 shares worth $299,515 on Friday, July 29. Bauman James L had sold 9,066 shares worth $1.62 million on Monday, August 1.

3M Company is a technology company. The Firm operates through five divisions. The company has a market cap of $106.89 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 21.88 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: Seekingalpha.com which released: “Dividend Aristocrats In Focus Part 33: 3M Co.” on November 08, 2016, also Reuters.com published article titled: “Post-it maker 3M trims forecasts for second time”, Bloomberg.com published: “3M Cuts Profit Outlook Amid Surprise Weakness in Health Care” on October 25, 2016. More interesting news about 3M Co (NYSE:MMM) was released by: Wsj.com and their article: “3M Earnings Preview: What to Watch” with publication date: October 24, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment