Insider Selling: 3M EVP Sells 17,743 Shares of Stock (MMM)
3M (NYSE:MMM) EVP Michael Kelly sold 17,743 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $125.28, for a total value of $2,222,843.04. Following the completion of the sale, the executive vice president now directly owns 19,734 shares of the company’s stock, valued at approximately $2,472,276. The sale was disclosed in a document filed with the SEC, which is available at this link.
3M (NYSE:MMM) traded up 0.85% during mid-day trading on Thursday, hitting $125.85. The stock had a trading volume of 2,331,692 shares. 3M has a one year low of $86.74 and a one year high of $125.98. The stock has a 50-day moving average of $120. and a 200-day moving average of $114.2. The company has a market cap of $84.731 billion and a P/E ratio of 19.17.
3M (NYSE:MMM) last released its earnings data on Thursday, October 24th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that 3M will post $6.71 earnings per share for the current fiscal year.
A number of research firms have recently commented on MMM. Analysts at Credit Suisse raised their price target on shares of 3M from $120.00 to $128.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Nomura raised their price target on shares of 3M from $120.00 to $128.00 in a research note to investors on Friday, October 25th. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of 3M from $121.00 to $123.00 in a research note to investors on Friday, October 25th. They now have an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. 3M presently has a consensus rating of “Hold” and a consensus target price of $123.92.
3M Company (NYSE:MMM) is a diversified technology company with a presence in the industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications businesses.
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