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

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

3M Trading Up 0.3 %

3M stock traded up $0.47 during trading hours on Monday, hitting $149.90. The company had a trading volume of 1,004,961 shares, compared to its average volume of 4,523,517. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market cap of $81.63 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.46 and a beta of 0.95. The company has a 50-day moving average price of $132.83 and a two-hundred day moving average price of $129.55. 3M has a 1 year low of $75.40 and a 1 year high of $152.08.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. During the same period last year, the business posted $2.42 EPS. 3M’s quarterly revenue 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 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 dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. 3M’s payout ratio is currently 37.09%.

Hedge Funds Weigh In On 3M

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

Wall Street Analyst Weigh In

MMM has been the topic of a number of research analyst reports. Citigroup increased their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Finally, 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company 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.