3M (NYSE:MMM) EVP Victoria Clarke Sells 1,750 Shares of Stock

3M (NYSE:MMM) EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

3M Price Performance

NYSE:MMM opened at $150.13 on Tuesday. 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 fifty day simple moving average of $135.21 and a 200 day simple moving average of $131.26. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The stock has a market capitalization of $81.76 billion, a PE ratio of 19.89, a P/E/G ratio of 3.37 and a beta of 0.96.

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 analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the company posted $2.42 EPS. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

Institutional Trading of 3M

A number of institutional investors have recently bought and sold shares of MMM. Financial Life Planners acquired a new position in 3M in the fourth quarter valued at about $25,000. FSA Wealth Management LLC acquired a new stake in 3M during the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC grew its stake in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. Finally, ORG Partners LLC increased its position in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MMM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Saturday. JPMorgan Chase & Co. upped their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report 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 for the company in a research report on Tuesday, October 22nd. Citigroup upped their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Mizuho boosted their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two 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 currently has a consensus rating of “Moderate Buy” and an average price target 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.