3M (NYSE:MMM) Chairman Michael F. Roman Sells 49,598 Shares

3M (NYSE:MMM) Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares of the company’s stock, valued at $27,550,308.50. The trade was a 21.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

3M Price Performance

MMM opened at $154.31 on Friday. The firm has a market cap of $84.03 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 3.35 and a beta of 0.95. 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 stock’s 50-day moving average price is $134.20 and its 200 day moving average price is $130.37. 3M has a 12-month low of $75.40 and a 12-month high of $154.65.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 15.71% and a return on equity of 100.77%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 earnings per share. As a group, sell-side analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is currently 37.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. J.P. Marvel Investment Advisors LLC raised its position in 3M by 30.3% in the 4th quarter. J.P. Marvel Investment Advisors LLC now owns 66,471 shares of the conglomerate’s stock valued at $8,581,000 after purchasing an additional 15,457 shares in the last quarter. Secured Retirement Advisors LLC raised its holdings in 3M by 5.2% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,171 shares of the conglomerate’s stock valued at $538,000 after acquiring an additional 208 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in 3M in the fourth quarter worth approximately $22,481,000. Allworth Financial LP grew its holdings in 3M by 32.6% during the 4th quarter. Allworth Financial LP now owns 35,244 shares of the conglomerate’s stock worth $4,550,000 after acquiring an additional 8,658 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of 3M by 76.1% in the 4th quarter. Principal Securities Inc. now owns 12,022 shares of the conglomerate’s stock valued at $1,552,000 after purchasing an additional 5,195 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MMM shares. Melius Research upgraded 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. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Finally, Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.