3M (NYSE:MMM) EVP Sells $269,885.00 in Stock

3M (NYSE:MMM) EVP Victoria Clarke sold 1,750 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

3M Stock Performance

NYSE:MMM opened at $152.43 on Thursday. The firm has a market capitalization of $83.01 billion, a PE ratio of 20.19, a PEG ratio of 3.37 and a beta of 0.96. The stock’s fifty day moving average is $135.98 and its 200 day moving average is $131.93. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. 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 (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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 for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.92%. 3M’s dividend payout ratio is currently 37.09%.

Institutional Investors Weigh In On 3M

A number of institutional investors and hedge funds have recently modified their holdings of MMM. Financial Life Planners purchased a new stake in 3M in the fourth quarter worth $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M in the fourth quarter worth about $26,000. FSA Wealth Management LLC purchased a new position in 3M in the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC lifted 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 valued at $30,000 after buying an additional 17,211 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the period. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MMM shares. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research note on Wednesday, January 22nd. Barclays increased their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup boosted their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America increased their price objective on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two 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’s stock. According to MarketBeat.com, 3M currently 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.