3M (NYSE:MMM) EVP John Patrick Banovetz Sells 7,759 Shares

3M (NYSE:MMM - Get Free Report) EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president now directly owns 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

3M Stock Performance

MMM traded up $1.02 during trading on Thursday, hitting $149.68. The stock had a trading volume of 2,621,422 shares, compared to its average volume of 3,961,563. The firm has a market capitalization of $80.55 billion, a P/E ratio of 19.83, a PEG ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a twelve month low of $96.89 and a twelve month high of $156.35. The company's 50-day moving average price is $141.44 and its 200 day moving average price is $140.56.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, equities research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M's dividend payout ratio is currently 36.87%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Life Planners purchased a new stake in shares of 3M during the 4th quarter worth $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M in the fourth quarter valued at about $26,000. REAP Financial Group LLC boosted its holdings in 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after buying an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in 3M during the fourth quarter worth about $27,000. Finally, Pinney & Scofield Inc. purchased a new position in 3M in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MMM shares. Royal Bank of Canada increased their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Citigroup decreased their target price on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays upped their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, 3M has an average rating of "Moderate Buy" and a consensus price target of $152.08.

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.