Michael F. Roman Sells 49,598 Shares of 3M (NYSE:MMM) Stock

3M (NYSE:MMM) Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

3M Stock Performance

Shares of MMM opened at $154.31 on Friday. 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 52-week low of $75.40 and a 52-week high of $154.65. The company has a 50-day simple moving average of $134.20 and a 200-day simple moving average of $130.37. The company has a market capitalization of $84.03 billion, a PE ratio of 20.44, a P/E/G ratio of 3.35 and a beta of 0.95.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. Equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.81%. 3M’s payout ratio is 37.09%.

Institutional Trading of 3M

Several large investors have recently bought and sold shares of MMM. D.A. Davidson & CO. grew its stake in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after acquiring an additional 20,421 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares in the last quarter. Meyer Handelman Co. grew its position in shares of 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after purchasing an additional 2,678 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after purchasing an additional 5,210 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its position in shares of 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Mizuho upped their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.