3M (NYSE:MMM) Insider Christian T. Goralski, Jr. Sells 6,318 Shares

3M (NYSE:MMM) insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

3M Price Performance

Shares of NYSE MMM traded up $0.47 during midday trading on Monday, reaching $149.90. 1,004,961 shares of the company were exchanged, compared to its average volume of 4,523,517. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a one year low of $75.40 and a one year high of $152.08. The stock has a market cap of $81.63 billion, a P/E ratio of 19.87, a PEG ratio of 2.46 and a beta of 0.95. The stock’s 50-day moving average price is $132.83 and its 200-day moving average price is $129.55.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5,770,390 billion. During the same period last year, the firm posted $2.42 earnings per share. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, sell-side analysts anticipate that 3M will post 7.66 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is presently 37.09%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MMM shares. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. James J. Burns & Company LLC bought a new stake in 3M in the 4th quarter valued at about $1,235,000. Stephens Consulting LLC boosted its holdings in 3M by 151.3% during the fourth quarter. Stephens Consulting LLC now owns 1,495 shares of the conglomerate’s stock worth $193,000 after purchasing an additional 900 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake in 3M by 4.6% in the 4th quarter. Brown Lisle Cummings Inc. now owns 8,050 shares of the conglomerate’s stock valued at $1,039,000 after buying an additional 352 shares during the last quarter. Commonwealth Financial Services LLC boosted its stake in shares of 3M by 12.2% in the 4th quarter. Commonwealth Financial Services LLC now owns 2,453 shares of the conglomerate’s stock worth $317,000 after buying an additional 267 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its holdings in shares of 3M by 4.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,194 shares of the conglomerate’s stock valued at $283,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Company Profile

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.