Insider Selling: 3M (NYSE:MMM) EVP Sells 6,743 Shares of Stock

3M (NYSE:MMM) EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the sale, the executive vice president now owns 4,902 shares in the company, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

3M Stock Down 0.1 %

MMM stock traded down $0.18 on Tuesday, hitting $151.34. 4,285,823 shares of the company’s stock were exchanged, compared to its average volume of 4,770,554. The firm has a 50 day moving average price of $133.26 and a two-hundred day moving average price of $129.89. 3M has a 12-month low of $75.40 and a 12-month high of $152.96. The stock has a market cap of $82.42 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.77 billion. During the same quarter last year, the business posted $2.42 EPS. The company’s revenue was down 25.0% on a year-over-year basis. As a group, equities research analysts expect that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

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

Institutional Trading of 3M

Institutional investors have recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new position in 3M in the fourth quarter valued at $25,000. FSA Wealth Management LLC acquired a new position in 3M in the 3rd quarter valued at $27,000. McClarren Financial Advisors Inc. lifted its position in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. True Wealth Design LLC boosted its stake in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after buying an additional 296 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Bank of America raised their price target on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Mizuho raised their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

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.