3M Co. (MMM) VP Sells $87,539.76 in Stock
3M Co. (NYSE:MMM) VP Eric D. Hammes sold 504 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $173.69, for a total value of $87,539.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of 3M Co. (NYSE:MMM) opened at 172.89 on Friday. The company has a 50 day moving average price of $170.29 and a 200-day moving average price of $173.60. 3M Co. has a 12 month low of $134.64 and a 12 month high of $182.27. The stock has a market cap of $103.99 billion, a P/E ratio of 21.80 and a beta of 1.04.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 25th. The company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.01. The business earned $7.70 billion during the quarter, compared to analyst estimates of $7.72 billion. 3M had a net margin of 16.40% and a return on equity of 42.27%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. On average, equities research analysts predict that 3M Co. will post $8.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $4.44 dividend on an annualized basis and a yield of 2.57%. 3M’s dividend payout ratio is presently 55.92%.
MMM has been the topic of a number of research reports. Credit Suisse Group AG upped their price target on 3M from $186.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 7th. Deutsche Bank AG reissued a “hold” rating and set a $164.00 price objective on shares of 3M in a report on Thursday, August 25th. Morgan Stanley reissued a “sell” rating and set a $168.00 price objective on shares of 3M in a report on Tuesday, August 23rd. Jefferies Group reissued a “buy” rating on shares of 3M in a report on Thursday, August 4th. Finally, Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $170.19.
Large investors have recently made changes to their positions in the stock. Wealthsource Partners LLC purchased a new position in shares of 3M during the first quarter valued at $277,000. Bayesian Capital Management LP acquired a new stake in shares of 3M during the first quarter valued at about $215,000. Allen Investment Management LLC boosted its stake in shares of 3M by 1.7% in the first quarter. Allen Investment Management LLC now owns 20,325 shares of the company’s stock valued at $3,387,000 after buying an additional 333 shares in the last quarter. National Pension Service boosted its stake in shares of 3M by 4.2% in the first quarter. National Pension Service now owns 322,583 shares of the company’s stock valued at $53,752,000 after buying an additional 13,083 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of 3M by 0.5% in the first quarter. Nuveen Asset Management LLC now owns 346,770 shares of the company’s stock valued at $57,782,000 after buying an additional 1,757 shares in the last quarter. Institutional investors and hedge funds own 65.78% of the company’s stock.
3M Company Profile
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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