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

3M (NYSE:MMM) Chairman Michael F. Roman sold 45,276 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the sale, the chairman now owns 175,718 shares in the company, valued at $26,359,457.18. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

3M Stock Up 1.3 %

Shares of 3M stock opened at $151.44 on Tuesday. 3M has a twelve month low of $75.40 and a twelve month high of $152.08. The stock has a market capitalization of $82.47 billion, a price-to-earnings ratio of 20.06, a PEG 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. The business’s 50 day simple moving average is $132.83 and its 200-day simple moving average is $129.55.

3M (NYSE:MMM) last posted its earnings results 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same period last year, the business posted $2.42 earnings per share. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. Equities research analysts forecast that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MMM shares. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Citigroup increased their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. 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 stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

Institutional Investors Weigh In On 3M

Several large investors have recently made changes to their positions in the company. Silver Oak Securities Incorporated boosted its position in shares of 3M by 12.0% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,028 shares of the conglomerate’s stock worth $391,000 after buying an additional 325 shares during the period. Robertson Stephens Wealth Management LLC raised its stake in 3M by 2.3% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 5,567 shares of the conglomerate’s stock valued at $719,000 after acquiring an additional 124 shares in the last quarter. Inman Jager Wealth Management LLC acquired a new position in 3M during the 4th quarter worth $1,338,000. Choreo LLC grew its stake in shares of 3M by 0.7% in the fourth quarter. Choreo LLC now owns 70,444 shares of the conglomerate’s stock worth $9,094,000 after purchasing an additional 513 shares in the last quarter. Finally, Massachusetts Wealth Management grew its stake in shares of 3M by 1.9% in the fourth quarter. Massachusetts Wealth Management now owns 14,974 shares of the conglomerate’s stock worth $1,933,000 after purchasing an additional 275 shares in the last quarter. Institutional investors and hedge funds 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.