Insider Selling: 3M (NYSE:MMM) CAO Sells 2,309 Shares of Stock

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

3M Price Performance

MMM stock opened at $151.44 on Tuesday. The business’s fifty day moving average price is $132.83 and its 200 day moving average price is $129.55. 3M has a 12-month low of $75.40 and a 12-month high of $152.08. The company has a market capitalization of $82.47 billion, a PE ratio of 20.06, a P/E/G 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.

3M (NYSE:MMM) last posted its quarterly earnings data 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 business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The business’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is currently 37.09%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays raised their target price on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America boosted their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Life Planners purchased a new position in shares of 3M in the 4th quarter valued at about $25,000. FSA Wealth Management LLC purchased a new position in 3M in the third quarter worth approximately $27,000. Daymark Wealth Partners LLC grew its holdings 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 acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

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.