Insider Selling: 3M (NYSE:MMM) EVP Sells $3,174,609.55 in Stock

3M Company (NYSE:MMM) EVP Mark Murphy sold 19,061 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the completion of the sale, the executive vice president directly owned 6,594 shares in the company, valued at approximately $1,098,230.70. The trade was a 74.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

3M Stock Down 0.0%

3M stock opened at $166.41 on Friday. The stock has a market cap of $88.40 billion, a P/E ratio of 26.58, a P/E/G ratio of 2.90 and a beta of 1.05. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 2.54. 3M Company has a twelve month low of $121.98 and a twelve month high of $172.85. The company’s 50-day moving average price is $157.08 and its two-hundred day moving average price is $151.21.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share for the quarter. The firm had revenue of $8.38 billion for the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. As a group, analysts expect that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 25th were paid a dividend of $0.73 per share. The ex-dividend date was Monday, August 25th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.8%. 3M’s dividend payout ratio (DPR) is 46.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MMM shares. Wells Fargo & Company increased their target price on 3M from $176.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada increased their target price on 3M from $120.00 to $130.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 22nd. Morgan Stanley set a $160.00 target price on shares of 3M and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of 3M from $177.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, UBS Group raised their target price on shares of 3M from $184.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $172.67.

Institutional Investors Weigh In On 3M

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of 3M in the 1st quarter valued at $28,000. WPG Advisers LLC acquired a new stake in shares of 3M in the 1st quarter valued at $28,000. GFG Capital LLC acquired a new stake in shares of 3M in the 2nd quarter valued at $28,000. Saudi Central Bank acquired a new stake in shares of 3M in the 1st quarter valued at $31,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of 3M in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

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.