3M Co (NYSE:MMM) EVP Julie L. Bushman sold 6,879 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $165.09, for a total transaction of $1,135,654.11.
Shares of NYSE MMM traded down $3.10 during mid-day trading on Tuesday, reaching $165.17. The company had a trading volume of 2,709,002 shares, compared to its average volume of 2,757,445. The firm has a market cap of $97.63 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.97 and a beta of 1.09. The business’s 50-day simple moving average is $168.41 and its 200 day simple moving average is $166.92. 3M Co has a one year low of $150.58 and a one year high of $219.75. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.79 and a current ratio of 2.30.
3M (NYSE:MMM) last announced its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.09. 3M had a net margin of 15.48% and a return on equity of 54.02%. The firm had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the company posted $2.58 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that 3M Co will post 9.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 22nd will be paid a $1.44 dividend. The ex-dividend date is Thursday, November 21st. This represents a $5.76 annualized dividend and a dividend yield of 3.49%. 3M’s payout ratio is 55.07%.
Several analysts recently commented on MMM shares. Citigroup reduced their target price on shares of 3M from $197.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Wolfe Research set a $177.00 price target on shares of 3M and gave the company a “sell” rating in a report on Friday, October 25th. Barclays cut their price objective on shares of 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating and set a $166.00 price target on the stock. in a research report on Monday, October 14th. Finally, Morgan Stanley dropped their price objective on shares of 3M from $177.00 to $173.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. 3M currently has a consensus rating of “Hold” and a consensus target price of $174.83.
A number of institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its holdings in shares of 3M by 1,337.4% in the second quarter. Nuveen Asset Management LLC now owns 2,830,790 shares of the conglomerate’s stock worth $490,689,000 after acquiring an additional 2,633,848 shares during the last quarter. Point72 Asset Management L.P. increased its position in 3M by 351.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 540,727 shares of the conglomerate’s stock worth $93,730,000 after purchasing an additional 755,727 shares in the last quarter. BlackRock Inc. lifted its stake in 3M by 1.2% in the 2nd quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock valued at $6,783,640,000 after purchasing an additional 472,084 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 3M by 0.8% during the second quarter. Vanguard Group Inc. now owns 49,688,700 shares of the conglomerate’s stock valued at $8,613,040,000 after acquiring an additional 407,636 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of 3M by 96.5% in the second quarter. AQR Capital Management LLC now owns 808,435 shares of the conglomerate’s stock worth $140,134,000 after purchasing an additional 396,952 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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