3M (NYSE:MMM) Insider Rodriguez Beatriz Karin Chavez Sells 1,645 Shares

3M (NYSE:MMM) insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares in the company, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

3M Stock Down 0.1 %

Shares of NYSE MMM opened at $151.34 on Wednesday. The business has a 50-day moving average of $133.26 and a two-hundred day moving average of $129.89. The company has a market capitalization of $82.42 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. 3M has a 1 year low of $75.40 and a 1 year high of $152.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 100.77% and a net margin of 15.71%. The firm’s revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 earnings per share. On average, analysts forecast that 3M will post 7.66 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.85%. 3M’s dividend payout ratio is currently 37.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its holdings in shares of 3M by 75.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,380 shares of the conglomerate’s stock valued at $2,185,000 after acquiring an additional 9,160 shares during the period. The Manufacturers Life Insurance Company grew its position in 3M by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 401,554 shares of the conglomerate’s stock worth $41,035,000 after purchasing an additional 11,368 shares during the last quarter. Creative Planning increased its stake in 3M by 7.5% in the second quarter. Creative Planning now owns 151,763 shares of the conglomerate’s stock valued at $15,509,000 after purchasing an additional 10,599 shares during the period. NewEdge Advisors LLC raised its holdings in shares of 3M by 15.1% in the second quarter. NewEdge Advisors LLC now owns 62,500 shares of the conglomerate’s stock valued at $6,387,000 after buying an additional 8,220 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. boosted its stake in shares of 3M by 80.0% during the second quarter. Wellington Wealth Strategies LLC. now owns 4,094 shares of the conglomerate’s stock worth $418,000 after buying an additional 1,819 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MMM shares. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. Bank of America lifted their price target on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Barclays increased their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and an average target price 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.