3M (NYSE:MMM) EVP Zoe L. Dickson Sells 7,915 Shares

3M (NYSE:MMM) EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

3M Price Performance

MMM opened at $154.11 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 1 year low of $96.76 and a 1 year high of $156.35. The stock has a fifty day moving average price of $141.68 and a 200 day moving average price of $139.66. The stock has a market cap of $82.94 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. Analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.89%. 3M’s dividend payout ratio is currently 36.87%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MMM. JPMorgan Chase & Co. lifted their target price on shares of 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup lowered their price objective on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Saturday, May 10th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $152.08.

Institutional Investors Weigh In On 3M

Institutional investors and hedge funds have recently modified their holdings of the business. Wayfinding Financial LLC bought a new stake in shares of 3M during the 4th quarter worth about $851,000. Ensign Peak Advisors Inc grew its holdings in 3M by 29.2% during the fourth quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate’s stock valued at $82,921,000 after purchasing an additional 145,146 shares during the last quarter. Braun Stacey Associates Inc. grew its holdings in 3M by 18.4% during the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate’s stock valued at $18,408,000 after purchasing an additional 22,203 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of 3M by 1,615.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate’s stock valued at $15,780,000 after purchasing an additional 115,116 shares during the period. Finally, Asahi Life Asset Management CO. LTD. lifted its stake in shares of 3M by 34.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate’s stock worth $1,616,000 after buying an additional 3,173 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

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.