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

3M (NYSE:MMM) CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

3M Stock Performance

MMM opened at $151.44 on Tuesday. The firm has a fifty day moving average price of $132.83 and a 200 day moving average price of $129.55. 3M has a 1 year low of $75.40 and a 1 year high of $152.08. The stock has a market cap of $82.47 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.46 and a beta of 0.95. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5,770,390 billion. During the same period in the prior year, the company posted $2.42 EPS. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. Equities research analysts anticipate that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.70 per share. 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 37.09%.

Analyst Ratings Changes

MMM has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and increased their price target for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Bank of America boosted their price target on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup raised their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.87.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gilbert & Cook Inc. raised its position in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 73 shares during the period. Childress Capital Advisors LLC lifted its stake in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after buying an additional 76 shares in the last quarter. CVA Family Office LLC boosted its holdings in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after buying an additional 79 shares during the last quarter. Wynn Capital LLC increased its stake in 3M by 0.7% during the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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.