3M Company (NYSE:MMM) Insider Christian T. Goralski, Jr. Sells 6,165 Shares

Key Points

• Insider Christian T. Goralski, Jr. sold 6,165 shares of 3M stock at an average price of $150.18, amounting to a total of $925,859.70, reducing their ownership by 68.01%.
• 3M Company reported $2.16 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, with a revenue of $6.16 billion.
• The company has declared a quarterly dividend of $0.73 per share, which translates to a 1.9% dividend yield, and maintains a dividend payout ratio of 40.61%.

3M Company (NYSE:MMM - Get Free Report) insider Christian T. Goralski, Jr. sold 6,165 shares of 3M stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total transaction of $925,859.70. Following the completion of the transaction, the insider owned 2,900 shares of the company's stock, valued at $435,522. This represents a 68.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

3M Price Performance

NYSE:MMM traded up $0.70 during midday trading on Friday, hitting $152.44. The company had a trading volume of 432,894 shares, compared to its average volume of 3,860,722. The company has a market capitalization of $81.19 billion, a PE ratio of 21.22, a P/E/G ratio of 2.92 and a beta of 1.05. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. 3M Company has a 52-week low of $121.98 and a 52-week high of $164.15. The stock's fifty day moving average price is $149.88 and its 200-day moving average price is $146.93.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 EPS. As a group, research analysts expect that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.9%. 3M's dividend payout ratio (DPR) is presently 40.61%.

Wall Street Analyst Weigh In

MMM has been the subject of several recent research reports. Royal Bank Of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a report on Friday, July 18th. Citigroup upped their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a research report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $158.10.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. REAP Financial Group LLC increased its stake in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the period. Pinney & Scofield Inc. bought a new position in shares of 3M in the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of 3M in the first quarter worth $28,000. WPG Advisers LLC bought a new stake in 3M during the 1st quarter valued at $28,000. Finally, GFG Capital LLC bought a new stake in 3M during the 2nd quarter valued at $28,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

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.

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