Insider Selling: 3M Co (MMM) Insider Sells 9,410 Shares of Stock

3M Co (NYSE:MMM) insider Paul A. Keel sold 9,410 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $199.14, for a total value of $1,873,907.40. Following the completion of the transaction, the insider now owns 23,009 shares of the company’s stock, valued at approximately $4,582,012.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

3M stock opened at $206.57 on Wednesday. The firm has a market capitalization of $115.06 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. 3M Co has a 12 month low of $176.87 and a 12 month high of $244.86. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 EPS for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.03. The business had revenue of $7.95 billion during the quarter, compared to analyst estimates of $7.87 billion. 3M had a return on equity of 57.70% and a net margin of 16.33%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. Equities research analysts forecast that 3M Co will post 10.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Friday, February 15th will be issued a $1.44 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.36. The ex-dividend date is Thursday, February 14th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.79%. 3M’s dividend payout ratio (DPR) is presently 52.01%.

3M announced that its board has approved a share buyback program on Tuesday, November 13th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the conglomerate to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Barclays reduced their price objective on 3M from $190.00 to $189.00 and set an “underweight” rating for the company in a research report on Thursday, January 3rd. Deutsche Bank raised their price objective on 3M from $206.00 to $210.00 and gave the company a “hold” rating in a research report on Friday, November 16th. Credit Suisse Group reduced their price objective on 3M from $228.00 to $222.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Finally, Royal Bank of Canada reduced their price objective on 3M to $223.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. 3M currently has a consensus rating of “Hold” and an average target price of $214.57.

Institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC purchased a new position in shares of 3M in the 4th quarter worth $35,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of 3M in the 4th quarter worth $38,000. Essex Investment Management Co. LLC purchased a new position in shares of 3M in the 4th quarter worth $39,000. Westside Investment Management Inc. boosted its stake in shares of 3M by 96.2% in the 4th quarter. Westside Investment Management Inc. now owns 255 shares of the conglomerate’s stock worth $49,000 after buying an additional 125 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in shares of 3M in the 4th quarter worth $72,000. 70.67% of the stock is owned by institutional investors and hedge funds.

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About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and 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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