A Reversal for 3M Co Is Not Near. Professional Options Traders Are Bearish

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In today’s session 3M Co (MMM) recorded an unusually high (1,525) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2015 put, expecting serious MMM decrease. With 1,525 contracts traded and 17294 open interest for the Dec, 15 contract, it seems this is a quite bearish bet. The option with symbol: MMM DEC 15 150 Put closed last at: $0.74 or 2.6% down. The stock is down 0.13% or $0.21 after the news, hitting $157.54 per share. About 2.14 million shares traded hands. 3M Co (NYSE:MMM) has declined 0.50% since May 4, 2015 and is downtrending. It has outperformed by 0.58% the S&P500.

Out of 14 analysts covering 3M (NYSE:MMM), 6 rate it “Buy”, 2 “Sell”, while 7 “Hold”. This means 40% are positive. 3M was the topic in 14 analyst reports since July 24, 2015 according to StockzIntelligence Inc.

The institutional sentiment increased to 0.9 in Q3 2015. Its up 0.14, from 0.76 in 2015Q2. The ratio increased, as 72 funds sold all 3M Co shares owned while 591 reduced positions. 68 funds bought stakes while 528 increased positions. They now own 420.08 million shares or 1.51% more from 413.83 million shares in 2015Q2.

Cb&T Wealth Management holds 73.01% of its portfolio in 3M Co for 145,268 shares. Spinnaker Trust owns 699,744 shares or 15.18% of their US portfolio. Moreover, Somerset Group Llc has 11.72% invested in the company for 75,973 shares. The Minnesota-based White Pine Capital Llc has invested 10.67% in the stock. Atlanta Capital Group, a Georgia-based fund reported 257,123 shares.

3M Company is a diversified technology company. The company has a market cap of $97.42 billion.

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