3M (NYSE:MMM) Chairman Michael F. Roman Sells 49,598 Shares

3M (NYSE:MMM - Get Free Report) Chairman Michael F. Roman sold 49,598 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the sale, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

3M Price Performance

MMM stock traded down $2.14 on Friday, reaching $152.26. The company had a trading volume of 4,164,049 shares, compared to its average volume of 4,254,869. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company's fifty day moving average is $135.21 and its 200 day moving average is $131.08. The company has a market cap of $82.92 billion, a P/E ratio of 20.17, a PEG ratio of 3.35 and a beta of 0.95. 3M has a 1 year low of $75.40 and a 1 year high of $155.00.

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

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.84%. 3M's dividend payout ratio (DPR) is currently 37.09%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MMM. FMR LLC increased its holdings in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter. International Assets Investment Management LLC grew its stake in 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate's stock valued at $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Jennison Associates LLC acquired a new stake in 3M in the third quarter valued at $82,208,000. Parsifal Capital Management LP raised its stake in shares of 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate's stock valued at $112,107,000 after purchasing an additional 526,194 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in 3M by 39.1% during the third quarter. Bank of Montreal Can now owns 1,099,794 shares of the conglomerate's stock valued at $151,002,000 after buying an additional 308,912 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Melius Research raised shares of 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. Citigroup upped their price target on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of 3M in a report on Saturday, January 18th. Royal Bank of Canada reissued an "underperform" rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price objective on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, 3M has an average rating of "Moderate Buy" and a consensus target price of $148.87.

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.