3M (MMM) Receiving Somewhat Positive Media Coverage, Study Shows
Headlines about 3M (NYSE:MMM) have been trending somewhat positive this week, according to Accern Sentiment. Accern rates the sentiment of media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. 3M earned a daily sentiment score of 0.23 on Accern’s scale. Accern also gave headlines about the conglomerate an impact score of 48.6688835293775 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news headlines that may have effected Accern’s rankings:
- FY2019 Earnings Estimate for 3M Company (MMM) Issued By Jefferies Group (americanbankingnews.com)
- William Blair Comments on 3M Company’s Q4 2017 Earnings (MMM) (americanbankingnews.com)
- Corning's Optical Business Just Got a Huge Boost (finance.yahoo.com)
- 3M Company (MMM) to Post Q4 2017 Earnings of $1.97 Per Share, Jefferies Group Forecasts (americanbankingnews.com)
- William Blair Weighs in on 3M Company’s FY2017 Earnings (MMM) (americanbankingnews.com)
3M (MMM) traded down $0.08 during mid-day trading on Friday, hitting $238.00. The stock had a trading volume of 4,518,734 shares, compared to its average volume of 1,887,194. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $141,742.78, a PE ratio of 26.59, a P/E/G ratio of 2.58 and a beta of 1.10. 3M has a 52 week low of $173.55 and a 52 week high of $244.23.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Friday, November 24th were given a dividend of $0.0118 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio (DPR) is presently 52.51%.
A number of research analysts have issued reports on MMM shares. Zacks Investment Research cut 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Bank of America reissued a “buy” rating and issued a $227.00 target price on shares of 3M in a research note on Thursday, September 14th. Credit Suisse Group reissued an “outperform” rating and issued a $237.00 target price (up from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Citigroup boosted their target price on 3M from $250.00 to $262.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, ValuEngine cut 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $231.16.
In related news, CFO Nicholas C. Gangestad sold 4,004 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.84, for a total transaction of $936,295.36. Following the completion of the transaction, the chief financial officer now directly owns 25,805 shares of the company’s stock, valued at $6,034,241.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon T. Lindekugel sold 400 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total value of $92,024.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock valued at $5,303,706 over the last three months. Insiders own 0.58% of the company’s stock.
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3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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