3M Co (NYSE:MMM) EVP Khandpur K. Ashish Sells 3,362 Shares

3M Co (NYSE:MMM) EVP Khandpur K. Ashish sold 3,362 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $174.20, for a total transaction of $585,660.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

MMM opened at $173.15 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.30 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average price of $163.83 and a 200-day moving average price of $169.15. 3M Co has a twelve month low of $150.58 and a twelve month high of $219.75. The stock has a market capitalization of $100.79 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 2.03 and a beta of 1.10.

3M (NYSE:MMM) last released its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.09. 3M had a net margin of 15.48% and a return on equity of 54.02%. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that 3M Co will post 9.09 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M. Kraus & Co raised its holdings in shares of 3M by 5.2% during the second quarter. M. Kraus & Co now owns 3,630 shares of the conglomerate’s stock valued at $629,000 after purchasing an additional 179 shares during the last quarter. Edgestream Partners L.P. increased its holdings in 3M by 3,427.1% during the second quarter. Edgestream Partners L.P. now owns 45,500 shares of the conglomerate’s stock valued at $7,887,000 after buying an additional 44,210 shares during the last quarter. Schafer Cullen Capital Management Inc increased its holdings in 3M by 26.8% during the second quarter. Schafer Cullen Capital Management Inc now owns 590,654 shares of the conglomerate’s stock valued at $102,384,000 after buying an additional 124,665 shares during the last quarter. Hikari Power Ltd increased its holdings in 3M by 3.9% during the second quarter. Hikari Power Ltd now owns 193,600 shares of the conglomerate’s stock valued at $33,559,000 after buying an additional 7,270 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in 3M by 26.8% during the second quarter. First Trust Advisors LP now owns 449,059 shares of the conglomerate’s stock valued at $77,840,000 after buying an additional 94,863 shares during the last quarter. 66.69% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of 3M from $173.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Wolfe Research set a $177.00 target price on shares of 3M and gave the stock a “sell” rating in a research note on Friday, October 25th. Zacks Investment Research downgraded shares of 3M from a “hold” rating to a “sell” rating and set a $166.00 target price on the stock. in a research note on Monday, October 14th. UBS Group dropped their target price on shares of 3M from $201.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, Barclays dropped their target price on shares of 3M from $158.00 to $157.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $174.08.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, 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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