3M (NYSE:MMM) CAO Sells $346,234.55 in Stock

3M (NYSE:MMM) CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

3M Stock Down 0.1 %

Shares of NYSE:MMM opened at $151.34 on Wednesday. 3M has a 52 week low of $75.40 and a 52 week high of $152.96. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company’s fifty day moving average is $133.26 and its 200-day moving average is $129.89. The company has a market capitalization of $82.42 billion, a PE ratio of 20.05, a P/E/G ratio of 2.46 and a beta of 0.95.

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

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.85%. 3M’s dividend payout ratio (DPR) is 37.09%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MMM shares. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Barclays boosted their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new position in 3M during the 4th quarter worth about $25,000. FSA Wealth Management LLC acquired a new position in 3M during the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC lifted its position in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in 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 last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

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.