Paul A. Keel Sells 4,965 Shares of 3M Company (NYSE:MMM) Stock
3M Company (NYSE:MMM) insider Paul A. Keel sold 4,965 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $206.16, for a total value of $1,023,584.40. Following the transaction, the insider now directly owns 5,503 shares of the company’s stock, valued at approximately $1,134,498.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of 3M Company (MMM) traded up 0.67% during midday trading on Monday, reaching $207.37. The company had a trading volume of 1,264,439 shares. The company’s 50-day moving average is $207.78 and its 200-day moving average is $196.94. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57. The firm has a market cap of $123.75 billion, a P/E ratio of 23.65 and a beta of 1.08.
3M (NYSE:MMM) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. 3M had a net margin of 17.65% and a return on equity of 47.83%. The business had revenue of $7.81 billion during the quarter, compared to analyst estimates of $7.86 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Equities research analysts expect that 3M Company will post $8.94 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Counsel Inc boosted its position in 3M by 7.0% in the first quarter. Capital Investment Counsel Inc now owns 2,889 shares of the conglomerate’s stock worth $553,000 after buying an additional 189 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in 3M by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 187,279 shares of the conglomerate’s stock worth $35,832,000 after buying an additional 2,400 shares during the last quarter. Addenda Capital Inc. boosted its position in 3M by 15.5% in the first quarter. Addenda Capital Inc. now owns 20,605 shares of the conglomerate’s stock worth $3,941,000 after buying an additional 2,758 shares during the last quarter. Lynch & Associates IN boosted its position in 3M by 4.1% in the first quarter. Lynch & Associates IN now owns 14,404 shares of the conglomerate’s stock worth $2,756,000 after buying an additional 564 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in 3M by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 3,135 shares of the conglomerate’s stock worth $600,000 after buying an additional 112 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $210.00 target price on shares of 3M in a report on Friday, July 28th. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. William Blair reaffirmed an “outperform” rating on shares of 3M in a report on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $209.00 target price (down from $210.00) on shares of 3M in a report on Wednesday, July 26th. Finally, Citigroup Inc. reduced their target price on 3M from $230.00 to $228.00 and set a “buy” rating for the company in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $203.40.
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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