3M Company (NYSE:MMM) insider Hak Cheol Shin sold 47,528 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $176.85, for a total transaction of $8,405,326.80. Following the completion of the transaction, the insider now directly owns 61,283 shares in the company, valued at approximately $10,837,898.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of 3M Company (NYSE:MMM) traded up 0.50% during midday trading on Monday, hitting $179.90. The company had a trading volume of 346,692 shares. The company has a market cap of $107.35 billion, a price-to-earnings ratio of 22.05 and a beta of 1.04. 3M Company has a 12 month low of $150.91 and a 12 month high of $182.27. The stock’s 50-day moving average price is $177.27 and its 200-day moving average price is $175.52.
3M Company (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 24th. The company reported $1.88 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.01. The business had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.35 billion. 3M Company had a return on equity of 43.82% and a net margin of 16.77%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.80 EPS. On average, equities research analysts forecast that 3M Company will post $8.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 12th. Stockholders of record on Friday, February 17th will be issued a dividend of $1.175 per share. This is a positive change from 3M Company’s previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, February 15th. This represents a $4.70 dividend on an annualized basis and a dividend yield of 2.63%. 3M Company’s dividend payout ratio is currently 54.41%.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Concannon Wealth Management LLC increased its stake in shares of 3M Company by 45.6% in the third quarter. Concannon Wealth Management LLC now owns 655 shares of the company’s stock valued at $116,000 after buying an additional 205 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in shares of 3M Company by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock valued at $124,000 after buying an additional 49 shares during the last quarter. TLP Group LLC acquired a new stake in shares of 3M Company during the third quarter valued at $127,000. Cascade Investment Advisors Inc. acquired a new stake in shares of 3M Company during the fourth quarter valued at $127,000. Finally, Balentine LLC increased its stake in shares of 3M Company by 41.1% in the second quarter. Balentine LLC now owns 762 shares of the company’s stock valued at $133,000 after buying an additional 222 shares during the last quarter. 65.80% of the stock is currently owned by institutional investors and hedge funds.
MMM has been the topic of several research reports. Goldman Sachs Group, Inc. (The) cut shares of 3M Company from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $172.96 to $159.00 in a research report on Monday, November 21st. Zacks Investment Research raised shares of 3M Company from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Barclays PLC raised shares of 3M Company from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $171.00 to $194.00 in a research report on Monday, October 24th. Citigroup Inc. reduced their price target on shares of 3M Company from $206.00 to $204.00 and set a “buy” rating on the stock in a research report on Wednesday, January 25th. Finally, Royal Bank Of Canada reduced their price target on shares of 3M Company from $159.00 to $155.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $180.17.
3M Company 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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