Traders See Bearish Options Activity 3M Co

 Traders See Bearish Options Activity 3M Co

In today’s session 3M Co (MMM) recorded an unusually high (944) 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 944 contracts traded and 26964 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: MMM170120P00160000 closed last at: $1.25 or 6.7% down. About 406,917 shares traded hands. 3M Co (NYSE:MMM) has risen 1.93% since April 21, 2016 and is uptrending. It has underperformed by 3.40% the S&P500.

Analysts await 3M Co (NYSE:MMM) to report earnings on January, 24. They expect $1.91 EPS, up 6.11% or $0.11 from last year’s $1.8 per share. MMM’s profit will be $1.15B for 22.52 P/E if the $1.91 EPS becomes a reality. After $2.15 actual EPS reported by 3M Co for the previous quarter, Wall Street now forecasts -11.16% negative EPS growth.

3M Co (NYSE:MMM) Ratings Coverage

Out of 10 analysts covering 3M (NYSE:MMM), 5 rate it a “Buy”, 3 “Sell”, while 2 “Hold”. This means 50% are positive. $194 is the highest target while $135 is the lowest. The $171.75 average target is -0.16% below today’s ($172.02) stock price. 3M has been the topic of 31 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Jefferies given on Tuesday, April 12. The company was maintained on Wednesday, October 26 by RBC Capital Markets. The stock of 3M Co (NYSE:MMM) earned “Market Perform” rating by Bernstein on Wednesday, March 30. On Monday, November 21 the stock rating was downgraded by Goldman Sachs to “Sell”. RBC Capital Markets maintained the shares of MMM in a report on Friday, October 23 with “Underperform” rating. On Tuesday, April 19 the stock rating was maintained by Citigroup with “Buy”. The company was maintained on Monday, October 5 by Barclays Capital. Morgan Stanley maintained 3M Co (NYSE:MMM) rating on Wednesday, March 30. Morgan Stanley has “Underweight” rating and $157 price target. Citigroup initiated 3M Co (NYSE:MMM) on Thursday, January 21 with “Buy” rating. On Wednesday, March 30 the stock rating was maintained by UBS with “Buy”.

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 is 0.78 in Q2 2016. Its the same as in 2016Q1. The ratio has no change, as 60 funds sold all 3M Co shares owned while 594 reduced positions. only 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.
Aspen Inv owns 1,861 shares or 0.27% of their US portfolio. Blackrock Japan owns 916,817 shares or 0.58% of their US portfolio. Inspirion Wealth Advsr Llc reported 2,898 shares or 0.33% of all its holdings. Coho Ptnrs Ltd has 584,805 shares for 3.72% of their US portfolio. Mutual Ins Federation Of Agricultural Cooperatives last reported 16,100 shares in the company. Brandywine Glob Mngmt owns 98,754 shares or 0.12% of their US portfolio. The Pennsylvania-based Susquehanna International Group Llp has invested 0.01% in 3M Co (NYSE:MMM). Roffman Miller Assocs Pa accumulated 107,225 shares or 3.08% of the stock. Sol Mgmt accumulated 3,159 shares or 0.18% of the stock. Moors & Cabot accumulated 0.59% or 19,076 shares. Old Mutual Customised Solutions (Proprietary), a South Africa-based fund reported 13,200 shares. Endurance Wealth Mgmt Incorporated holds 0.07% of its portfolio in 3M Co (NYSE:MMM) for 2,250 shares. Focused Wealth Mngmt has 2,079 shares for 0.17% of their US portfolio. Concannon Wealth Ltd Limited Liability Company has 450 shares for 0.08% of their US portfolio. Advisor Prtnrs Lc last reported 0.79% of its portfolio in the stock.

Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 9 insider sales for $7.56 million net activity. 10,424 shares were sold by Bushman Julie L, worth $1.80M. Price Kimberly F sold $508,323 worth of 3M Co (NYSE:MMM) on Tuesday, August 16. 3,180 shares were sold by Keel Paul A, worth $567,284. Bauman James L sold $1.62 million worth of stock or 9,066 shares. Little Frank R Jr. had sold 3,778 shares worth $674,198. On Friday, July 29 the insider Ashish Khandpur K sold $299,515. $87,539 worth of 3M Co (NYSE:MMM) was sold by Hammes Eric D. on Monday, November 14.

3M Company is a technology company. The Firm operates through five divisions. The company has a market cap of $103.70 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 21.67 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”, Seekingalpha.com published: “Dividend Aristocrats In Focus Part 33: 3M Co.” on November 08, 2016. More interesting news about 3M Co (NYSE:MMM) was released by: Schaeffersresearch.com and their article: “Analyst Downgrades: McDonald’s Corporation, 3M Co, and Abercrombie & Fitch Co.” with publication date: November 21, 2016.

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