Michael F. Roman Sells 10,610 Shares of 3M (NYSE:MMM) Stock

3M (NYSE:MMMGet Rating) CEO Michael F. Roman sold 10,610 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $146.21, for a total transaction of $1,551,288.10. Following the completion of the transaction, the chief executive officer now directly owns 90,361 shares in the company, valued at approximately $13,211,681.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

NYSE:MMM opened at $154.23 on Thursday. The company has a 50-day moving average price of $147.92 and a 200-day moving average price of $164.59. 3M has a 12 month low of $139.74 and a 12 month high of $208.95. The company has a current ratio of 1.58, a quick ratio of 1.00 and a debt-to-equity ratio of 0.99. The stock has a market cap of $87.77 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.42 and a beta of 0.92.

3M (NYSE:MMMGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.34. 3M had a net margin of 15.84% and a return on equity of 39.35%. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.75 billion. During the same period last year, the company posted $2.77 EPS. 3M’s revenue was down .6% on a year-over-year basis. Equities analysts forecast that 3M will post 10.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 12th. Investors of record on Friday, February 18th were given a dividend of $1.49 per share. This is a boost from 3M’s previous quarterly dividend of $1.48. This represents a $5.96 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 17th. 3M’s dividend payout ratio (DPR) is 62.02%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its position in 3M by 21.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 14,191 shares of the conglomerate’s stock valued at $2,521,000 after acquiring an additional 2,526 shares during the period. Van Hulzen Asset Management LLC increased its stake in 3M by 2.9% during the 3rd quarter. Van Hulzen Asset Management LLC now owns 59,833 shares of the conglomerate’s stock valued at $10,496,000 after purchasing an additional 1,708 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in 3M by 68.3% during the 3rd quarter. Beacon Pointe Advisors LLC now owns 32,590 shares of the conglomerate’s stock valued at $5,717,000 after purchasing an additional 13,229 shares in the last quarter. Fisher Asset Management LLC increased its stake in 3M by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 5,776,701 shares of the conglomerate’s stock valued at $1,026,115,000 after purchasing an additional 171,857 shares in the last quarter. Finally, Mariner LLC increased its stake in 3M by 3.7% during the 3rd quarter. Mariner LLC now owns 364,706 shares of the conglomerate’s stock valued at $63,977,000 after purchasing an additional 12,860 shares in the last quarter. 67.22% of the stock is owned by institutional investors.

Several equities analysts recently commented on MMM shares. Barclays reduced their target price on shares of 3M from $155.00 to $146.00 and set an “underweight” rating on the stock in a report on Wednesday, April 27th. Jefferies Financial Group reduced their target price on shares of 3M from $186.00 to $161.00 and set a “hold” rating on the stock in a report on Tuesday, March 15th. UBS Group reduced their target price on shares of 3M from $168.00 to $118.00 and set a “sell” rating on the stock in a report on Friday, March 11th. Wells Fargo & Company reduced their target price on shares of 3M from $184.00 to $173.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 15th. Finally, Royal Bank of Canada increased their target price on shares of 3M from $136.00 to $138.00 and gave the company an “underperform” rating in a report on Wednesday, April 27th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $164.73.

3M Company Profile (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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