3M (NYSE:MMM) Chairman Michael F. Roman Sells 45,276 Shares of Stock

3M (NYSE:MMM) Chairman Michael F. Roman sold 45,276 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the transaction, the chairman now owns 175,718 shares in the company, valued at $26,359,457.18. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

3M Trading Up 1.3 %

Shares of MMM stock opened at $151.44 on Tuesday. The firm’s 50-day simple moving average is $132.83 and its 200-day simple moving average is $129.55. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1-year low of $75.40 and a 1-year high of $152.08. The firm has a market cap of $82.47 billion, a P/E ratio of 20.06, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. During the same quarter last year, the firm posted $2.42 earnings per share. 3M’s revenue was down 25.0% on a year-over-year basis. As a group, equities analysts forecast that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.85%. 3M’s dividend payout ratio is presently 37.09%.

Institutional Trading of 3M

A number of institutional investors have recently modified their holdings of the company. Financial Life Planners acquired a new position in 3M during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new position in shares of 3M in the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC lifted its holdings in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its holdings in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. Finally, ORG Partners LLC boosted its position in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research note on Wednesday, January 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Bank of America increased their price objective on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, 3M presently has an average rating of “Moderate Buy” and an average price target of $148.87.

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.