Insider Selling: 3M (NYSE:MMM) Insider Sells 1,645 Shares of Stock

3M (NYSE:MMM) insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

3M Stock Performance

Shares of NYSE:MMM traded down $0.18 during trading on Tuesday, reaching $151.34. 4,285,823 shares of the stock were exchanged, compared to its average volume of 4,770,554. 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 firm has a market cap of $82.42 billion, a PE ratio of 20.05, a PEG ratio of 2.46 and a beta of 0.95. The stock has a 50-day moving average price of $133.26 and a 200-day moving average price of $129.89.

3M (NYSE:MMM) last released its 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 during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.42 earnings per share. Research analysts expect that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MMM shares. Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target 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. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $148.87.

Institutional Trading of 3M

A number of large investors have recently bought and sold shares of MMM. Public Sector Pension Investment Board grew its holdings in shares of 3M by 75.0% in the second quarter. Public Sector Pension Investment Board now owns 21,380 shares of the conglomerate’s stock valued at $2,185,000 after acquiring an additional 9,160 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 3M by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 401,554 shares of the conglomerate’s stock worth $41,035,000 after purchasing an additional 11,368 shares in the last quarter. Creative Planning grew its stake in 3M by 7.5% during the second quarter. Creative Planning now owns 151,763 shares of the conglomerate’s stock valued at $15,509,000 after acquiring an additional 10,599 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of 3M by 15.1% in the second quarter. NewEdge Advisors LLC now owns 62,500 shares of the conglomerate’s stock worth $6,387,000 after purchasing an additional 8,220 shares during the period. Finally, Wellington Wealth Strategies LLC. grew its holdings in shares of 3M by 80.0% during the second quarter. Wellington Wealth Strategies LLC. now owns 4,094 shares of the conglomerate’s stock worth $418,000 after purchasing an additional 1,819 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.