3M (NYSE:MMM – Get 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:MMM – Get 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.
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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