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 company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through the SEC website.

3M Stock Down 0.1 %

Shares of NYSE:MMM opened at $151.34 on Wednesday. The company has a fifty day moving average of $133.26 and a 200-day moving average of $129.89. The company has a market capitalization of $82.42 billion, a PE 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 has a 52-week low of $75.40 and a 52-week high of $152.96.

3M (NYSE:MMM) last posted 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 the consensus estimate of $5.77 billion. During the same period in the prior year, the business posted $2.42 earnings per share. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. On average, equities analysts predict that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.85%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

Analyst Ratings Changes

Several equities analysts have recently commented on MMM shares. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and upped their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Melius Research raised 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.87.

Hedge Funds Weigh In On 3M

A number of institutional investors and hedge funds have recently made changes to their positions in MMM. Financial Life Planners bought a new position in shares of 3M during the 4th quarter worth about $25,000. FSA Wealth Management LLC bought a new position in shares of 3M during the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC boosted its position in shares of 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 purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. boosted its position in shares of 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 purchasing an additional 121 shares in the last quarter. Finally, ORG Partners LLC boosted its position 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 in the last quarter. Institutional investors 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.