3M (NYSE:MMM) EVP Sells $1,010,438.55 in Stock

3M (NYSE:MMM) EVP Kevin H. Rhodes sold 6,743 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was 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 owns 4,902 shares in the company, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

3M Price Performance

Shares of NYSE:MMM opened at $151.55 on Thursday. 3M has a 12 month low of $75.40 and a 12 month high of $152.96. 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 stock has a market cap of $82.53 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.46 and a beta of 0.95. The company has a 50 day moving average of $133.72 and a 200 day moving average of $130.23.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for 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 business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. As a group, sell-side analysts forecast that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared 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%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Avestar Capital LLC increased its holdings in shares of 3M by 7.6% in the 4th quarter. Avestar Capital LLC now owns 2,998 shares of the conglomerate’s stock worth $387,000 after buying an additional 211 shares during the last quarter. PrairieView Partners LLC grew its position in 3M by 1.1% in the fourth quarter. PrairieView Partners LLC now owns 38,298 shares of the conglomerate’s stock worth $4,943,000 after acquiring an additional 407 shares in the last quarter. TFC Financial Management Inc. increased its stake in 3M by 1.1% in the fourth quarter. TFC Financial Management Inc. now owns 7,410 shares of the conglomerate’s stock valued at $957,000 after acquiring an additional 82 shares during the last quarter. Van ECK Associates Corp raised its position in 3M by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 93,938 shares of the conglomerate’s stock valued at $12,126,000 after purchasing an additional 5,026 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in 3M by 14.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 209,848 shares of the conglomerate’s stock worth $27,214,000 after purchasing an additional 25,895 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Bank of America boosted their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $170.00 in a research report 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 report on Wednesday, January 22nd. Finally, Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.