Michael F. Roman Sells 45,276 Shares of 3M (NYSE:MMM) Stock

3M (NYSE:MMM) Chairman Michael F. Roman sold 45,276 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the transaction, the chairman now owns 175,718 shares of the company’s stock, valued at $26,359,457.18. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

3M Price Performance

NYSE MMM traded up $0.47 on Monday, reaching $149.90. 1,004,961 shares of the company’s stock traded hands, compared to its average volume of 4,523,517. The stock has a market cap of $81.63 billion, a PE ratio of 19.87, a P/E/G ratio of 2.46 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $152.08. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $132.83 and a 200 day simple moving average of $129.55.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. During the same quarter in the previous year, the company earned $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, research analysts predict that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 37.09%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Bank of America boosted their target price on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Barclays increased their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Institutional Investors Weigh In On 3M

Several hedge funds have recently bought and sold shares of the business. Gilbert & Cook Inc. lifted its holdings in 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after acquiring an additional 73 shares during the period. Childress Capital Advisors LLC boosted its holdings in shares of 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after buying an additional 76 shares during the last quarter. CVA Family Office LLC grew its position in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the period. Wynn Capital LLC increased its holdings in 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after acquiring an additional 81 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.