Victoria Clarke Sells 1,750 Shares of 3M (NYSE:MMM) Stock

3M (NYSE:MMM) EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

3M Price Performance

3M stock opened at $151.73 on Wednesday. The firm has a market capitalization of $82.62 billion, a P/E ratio of 20.10, a PEG ratio of 3.37 and a beta of 0.96. 3M has a one year low of $75.40 and a one year high of $155.00. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a fifty day moving average price of $135.61 and a 200-day moving average price of $131.59.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the firm earned $2.42 EPS. The company’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.92%. 3M’s dividend payout ratio is currently 37.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMM. Financial Life Planners bought a new stake in 3M during the fourth quarter valued at $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M during the 3rd quarter valued at about $27,000. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. True Wealth Design LLC increased its position in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the last quarter. Finally, ORG Partners LLC raised its stake in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MMM. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research note on Saturday. Bank of America increased their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.