Insider Selling: 3M Co (MMM) EVP Sells 8,906 Shares of Stock

3M Co (NYSE:MMM) EVP Michael G. Vale sold 8,906 shares of the company’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $199.29, for a total value of $1,774,876.74. Following the completion of the sale, the executive vice president now owns 52,225 shares in the company, valued at $10,407,920.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of MMM stock opened at $200.91 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.29 and a debt-to-equity ratio of 1.36. The firm has a market cap of $115.06 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. 3M Co has a 52 week low of $176.87 and a 52 week high of $244.86.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 EPS for the quarter, topping the consensus estimate of $2.28 by $0.03. The company had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $7.87 billion. 3M had a return on equity of 57.70% and a net margin of 16.33%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. As a group, equities analysts predict that 3M Co will post 10.67 EPS for the current year.



The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 15th will be issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, February 14th. This is a boost from 3M’s previous quarterly dividend of $1.36. 3M’s dividend payout ratio is presently 52.01%.

3M announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 13th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the conglomerate to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in the company. Capital Insight Partners LLC lifted its stake in shares of 3M by 0.6% during the fourth quarter. Capital Insight Partners LLC now owns 8,852 shares of the conglomerate’s stock valued at $1,687,000 after acquiring an additional 56 shares during the period. Sawyer & Company Inc lifted its stake in shares of 3M by 1.6% during the fourth quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock valued at $722,000 after acquiring an additional 60 shares during the period. Atlas Brown Inc. lifted its stake in shares of 3M by 0.9% during the fourth quarter. Atlas Brown Inc. now owns 6,928 shares of the conglomerate’s stock valued at $1,320,000 after acquiring an additional 60 shares during the period. Providence Wealth Advisors LLC lifted its stake in shares of 3M by 0.9% during the fourth quarter. Providence Wealth Advisors LLC now owns 6,851 shares of the conglomerate’s stock valued at $1,297,000 after acquiring an additional 61 shares during the period. Finally, Integrated Investment Consultants LLC lifted its stake in shares of 3M by 2.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 2,677 shares of the conglomerate’s stock valued at $511,000 after acquiring an additional 61 shares during the period. Institutional investors own 70.67% of the company’s stock.

A number of analysts have weighed in on MMM shares. Barclays lowered their price target on 3M from $201.00 to $195.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 24th. Deutsche Bank set a $206.00 price target on 3M and gave the company a “hold” rating in a research report on Wednesday, October 24th. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price target (down from $230.00) on shares of 3M in a research report on Thursday, January 3rd. Royal Bank of Canada lowered their price target on 3M to $223.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Finally, Argus lowered their price target on 3M from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. 3M currently has an average rating of “Hold” and a consensus price target of $214.57.

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About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Insider Buying and Selling by Quarter for 3M (NYSE:MMM)

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