Michael F. Roman Sells 45,276 Shares of 3M (NYSE:MMM) Stock

3M (NYSE:MMM) Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the sale, the chairman now owns 175,718 shares of the company’s stock, valued at $26,359,457.18. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

3M Stock Up 0.3 %

Shares of MMM traded up $0.47 during mid-day trading on Monday, hitting $149.90. 1,004,961 shares of the company’s stock were exchanged, compared to its average volume of 4,523,517. The stock’s 50-day moving average is $132.83 and its 200-day moving average is $129.55. 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 fifty-two week low of $75.40 and a fifty-two week high of $152.08. The company has a market cap of $81.63 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same period last year, the firm earned $2.42 earnings per share. The company’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 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is 37.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MMM. Gilbert & Cook Inc. grew its holdings in shares of 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 purchasing an additional 73 shares during the last quarter. Childress Capital Advisors LLC raised its position in 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after buying an additional 76 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of 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 acquiring an additional 79 shares during the period. Wynn Capital LLC boosted its holdings in shares of 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after acquiring an additional 80 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays increased their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.