Michael G. Vale Sells 36,771 Shares of 3M (NYSE:MMM) Stock

3M (NYSE:MMMGet Rating) insider Michael G. Vale sold 36,771 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $143.26, for a total transaction of $5,267,813.46. Following the transaction, the insider now owns 65,321 shares of the company’s stock, valued at $9,357,886.46. The transaction was disclosed in a filing with the SEC, which is available through this link.

3M Trading Up 3.2 %

NYSE:MMM opened at $148.12 on Friday. The firm’s fifty day moving average is $136.20 and its 200-day moving average is $146.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.90 and a current ratio of 1.47. 3M has a 52 week low of $125.60 and a 52 week high of $202.77. The firm has a market cap of $84.37 billion, a P/E ratio of 20.69, a P/E/G ratio of 1.43 and a beta of 0.97.

3M (NYSE:MMMGet Rating) last issued its earnings results on Tuesday, July 26th. The conglomerate reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.01. The business had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.70 billion. 3M had a net margin of 11.83% and a return on equity of 39.11%. 3M’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 earnings per share. Equities analysts expect that 3M will post 10.4 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 12th. Investors of record on Friday, May 20th were paid a dividend of $1.49 per share. This represents a $5.96 annualized dividend and a yield of 4.02%. The ex-dividend date was Thursday, May 19th. 3M’s dividend payout ratio is presently 83.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in 3M during the fourth quarter worth $596,325,000. State Street Corp raised its holdings in 3M by 5.2% during the first quarter. State Street Corp now owns 32,590,721 shares of the conglomerate’s stock worth $4,852,107,000 after buying an additional 1,610,785 shares during the last quarter. Renaissance Technologies LLC raised its holdings in 3M by 1,889.1% during the first quarter. Renaissance Technologies LLC now owns 1,356,600 shares of the conglomerate’s stock worth $201,971,000 after buying an additional 1,288,400 shares during the last quarter. BlackRock Inc. raised its holdings in 3M by 2.8% during the first quarter. BlackRock Inc. now owns 42,996,030 shares of the conglomerate’s stock worth $6,401,249,000 after buying an additional 1,185,844 shares during the last quarter. Finally, Cullen Capital Management LLC acquired a new position in 3M during the fourth quarter worth $186,687,000. 67.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MMM has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of 3M from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Morgan Stanley upped their price target on shares of 3M from $126.00 to $131.00 and gave the company an “underweight” rating in a research report on Wednesday, July 27th. Barclays decreased their price target on shares of 3M from $143.00 to $137.00 and set an “underweight” rating for the company in a research report on Wednesday, July 27th. Citigroup upped their price target on shares of 3M from $136.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Jefferies Financial Group decreased their price target on shares of 3M from $161.00 to $145.00 in a research report on Thursday, June 16th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and a consensus price target of $152.00.

3M Company Profile

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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