3M (NYSE:MMM) Insider Sells 1,645 Shares

3M (NYSE:MMM) insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the sale, the insider now directly owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

3M Stock Performance

Shares of MMM stock traded down $0.18 during trading hours on Tuesday, hitting $151.34. 4,285,823 shares of the company were exchanged, compared to its average volume of 4,770,554. The firm has a fifty day simple moving average of $133.26 and a 200 day simple moving average of $129.89. 3M has a 52-week low of $75.40 and a 52-week high of $152.96. The stock has a market capitalization of $82.42 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.46 and a beta of 0.95. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the business earned $2.42 earnings per share. The firm’s revenue was down 25.0% on a year-over-year basis. Research analysts predict that 3M will post 7.66 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is 37.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MMM shares. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

Hedge Funds Weigh In On 3M

Several hedge funds and other institutional investors have recently modified their holdings of MMM. State Street Corp boosted its position in 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after acquiring an additional 302,900 shares in the last quarter. FMR LLC boosted its position in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after purchasing an additional 43,942 shares during the period. National Pension Service increased its position in shares of 3M by 14.5% during the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after purchasing an additional 161,036 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares during the period. 65.25% of the stock is owned by institutional investors.

About 3M

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.