Mark Murphy Sells 19,061 Shares of 3M (NYSE:MMM) Stock

3M Company (NYSE:MMM) EVP Mark Murphy sold 19,061 shares of the 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 transaction, the executive vice president owned 6,594 shares of the company’s stock, valued at $1,098,230.70. This represents a 74.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

3M Trading Down 0.0%

Shares of MMM opened at $166.41 on Friday. 3M Company has a twelve month low of $121.98 and a twelve month high of $172.85. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $88.40 billion, a P/E ratio of 26.58, a PEG ratio of 2.90 and a beta of 1.05. The firm’s 50-day moving average is $157.08 and its two-hundred day moving average is $151.09.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 25th were given a $0.73 dividend. 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 currently 46.65%.

Institutional Investors Weigh In On 3M

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

Analyst Ratings Changes

Several research firms recently commented on MMM. Weiss Ratings reiterated a “buy (b-)” rating on shares of 3M in a research report on Wednesday, October 8th. UBS Group lifted their target price on shares of 3M from $184.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $160.00 price target on shares of 3M and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Wells Fargo & Company raised their price objective on shares of 3M from $176.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on 3M from $177.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.67.

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.