3M (NYSE:MMM) CFO Sells $260,652.00 in Stock

3M (NYSE:MMM) CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

3M Price Performance

Shares of MMM traded down $0.96 during trading hours on Friday, hitting $124.17. 3,247,914 shares of the stock were exchanged, compared to its average volume of 5,417,748. The stock’s 50-day moving average price is $107.04 and its two-hundred day moving average price is $100.04. 3M has a 12-month low of $71.12 and a 12-month high of $128.65. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The company has a market cap of $68.71 billion, a price-to-earnings ratio of -9.76, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter in the prior year, the firm earned $2.17 earnings per share. Research analysts expect that 3M will post 7.21 earnings per share for the current year.

3M Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Thursday, May 23rd. 3M’s dividend payout ratio is currently -22.01%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MMM shares. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. HSBC upgraded 3M from a “hold” rating to a “buy” rating and lifted their price target for the company from $91.13 to $115.00 in a research report on Friday, May 10th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, July 30th. Barclays upped their price objective on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Bank of America raised their target price on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average price target of $123.57.

Institutional Investors Weigh In On 3M

A number of large investors have recently made changes to their positions in MMM. Fortis Capital Advisors LLC grew its holdings in 3M by 2.9% in the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after buying an additional 84 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in 3M by 0.4% in the second quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock valued at $2,311,000 after purchasing an additional 97 shares during the period. AMG National Trust Bank lifted its stake in shares of 3M by 3.1% in the 2nd quarter. AMG National Trust Bank now owns 3,326 shares of the conglomerate’s stock valued at $340,000 after purchasing an additional 100 shares during the last quarter. Platinum Investment Management Ltd. grew its holdings in shares of 3M by 11.4% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate’s stock worth $108,000 after purchasing an additional 104 shares during the period. Finally, Allen Capital Group LLC increased its position in shares of 3M by 0.5% during the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock worth $2,288,000 after purchasing an additional 105 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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.