Theresa E. Reinseth Sells 2,309 Shares of 3M (NYSE:MMM) Stock

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

3M Stock Performance

MMM stock opened at $151.34 on Wednesday. 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 stock has a market cap of $82.42 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.46 and a beta of 0.95. The firm has a 50 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.

3M (NYSE:MMM) last posted its quarterly 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. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. Research analysts anticipate that 3M will post 7.66 earnings per share for the current fiscal year.

3M Announces Dividend

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

Institutional Trading of 3M

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in 3M by 1.1% in the third 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 during the last quarter. FMR LLC lifted its stake in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after acquiring an additional 43,942 shares during the last quarter. National Pension Service lifted its stake in 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after acquiring an additional 161,036 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MMM shares. Mizuho raised their target price 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. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Barclays lifted their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Bank of America lifted their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned 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 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.