3M Co. (MMM) Insider Julie L. Bushman Sells 10,424 Shares of Stock
3M Co. (NYSE:MMM) insider Julie L. Bushman sold 10,424 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $173.02, for a total transaction of $1,803,560.48. Following the transaction, the insider now owns 32,717 shares of the company’s stock, valued at approximately $5,660,695.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of 3M Co. (NYSE:MMM) traded down 1.02% during trading on Monday, reaching $171.20. 636,726 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $170.23 and its 200-day moving average price is $173.63. 3M Co. has a 52-week low of $134.64 and a 52-week high of $182.27. The stock has a market cap of $102.97 billion, a PE ratio of 21.59 and a beta of 1.04.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.01. 3M had a net margin of 16.40% and a return on equity of 42.27%. The company earned $7.70 billion during the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that 3M Co. will post $8.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Wednesday, November 16th. 3M’s dividend payout ratio (DPR) is presently 55.92%.
Several hedge funds have recently modified their holdings of the company. Cable Hill Partners LLC increased its stake in shares of 3M by 5.0% in the second quarter. Cable Hill Partners LLC now owns 583 shares of the company’s stock worth $103,000 after buying an additional 28 shares during the period. Reilly Financial Advisors LLC increased its stake in shares of 3M by 38.1% in the second quarter. Reilly Financial Advisors LLC now owns 645 shares of the company’s stock worth $113,000 after buying an additional 178 shares during the period. CenturyLink Investment Management Co purchased a new stake in shares of 3M during the second quarter worth $116,000. Concannon Wealth Management LLC increased its stake in shares of 3M by 45.6% in the third quarter. Concannon Wealth Management LLC now owns 655 shares of the company’s stock worth $116,000 after buying an additional 205 shares during the period. Finally, Jackson Grant Investment Advisers Inc. increased its stake in shares of 3M by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock worth $124,000 after buying an additional 49 shares during the period. 65.53% of the stock is owned by institutional investors.
MMM has been the subject of a number of analyst reports. Morgan Stanley restated a “sell” rating and set a $168.00 price target on shares of 3M in a research note on Tuesday, August 23rd. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Credit Suisse Group AG restated a “buy” rating and set a $195.00 price target on shares of 3M in a research note on Friday, September 16th. Royal Bank Of Canada cut their price target on shares of 3M from $159.00 to $155.00 and set an “underperform” rating for the company in a research note on Wednesday, October 26th. Finally, Deutsche Bank AG restated a “hold” rating and set a $164.00 price target on shares of 3M in a research note on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $170.80.
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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