Theresa E. Reinseth Sells 3,477 Shares of 3M Company (NYSE:MMM) Stock

Key Points

• 3M's Chief Accounting Officer, Theresa E. Reinseth, sold 3,477 shares for approximately $523,740.51, reducing her ownership by 57.59%.
• The company reported an earnings per share (EPS) of $2.16, exceeding analysts' expectations of $2.01, with a quarterly revenue of $6.16 billion.
• 3M recently declared a quarterly dividend of $0.73 per share, equating to an annualized dividend of $2.92 and a dividend yield of 1.9%.

3M Company (NYSE:MMM - Get Free Report) CAO Theresa E. Reinseth sold 3,477 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the sale, the chief accounting officer owned 2,561 shares in the company, valued at $385,763.43. This represents a 57.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

3M Trading Up 0.7%

NYSE:MMM traded up $1.06 on Friday, hitting $152.80. 326,425 shares of the stock were exchanged, compared to its average volume of 3,860,437. The stock has a fifty day moving average of $149.88 and a 200-day moving average of $146.93. The stock has a market cap of $81.38 billion, a PE ratio of 21.25, a PEG ratio of 2.92 and a beta of 1.05. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $164.15.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The company's revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. As a group, equities analysts expect that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.9%. 3M's dividend payout ratio is currently 40.61%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. LaSalle St. Investment Advisors LLC grew its stake in shares of 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after acquiring an additional 71 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in 3M by 0.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate's stock worth $2,576,000 after purchasing an additional 72 shares during the last quarter. TCV Trust & Wealth Management Inc. raised its position in shares of 3M by 1.1% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after purchasing an additional 73 shares in the last quarter. Cahaba Wealth Management Inc. boosted its stake in shares of 3M by 1.4% during the 1st quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock valued at $819,000 after buying an additional 75 shares during the last quarter. Finally, Altman Advisors Inc. grew its position in shares of 3M by 0.5% during the first quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate's stock worth $2,318,000 after buying an additional 76 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays set a $170.00 price target on 3M in a research report on Friday, July 18th. Royal Bank Of Canada lifted their price objective on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. set a $167.00 target price on shares of 3M in a research note on Friday, July 18th. Citigroup raised their price target on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $158.10.

3M Company Profile

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.