Insider Selling: Inge Thulin Sells 5,614 Shares of 3M Stock (MMM)
3M (NYSE:MMM) CEO Inge Thulin sold 5,614 shares of 3M stock on the open market in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $125.20, for a total transaction of $702,872.80. Following the completion of the transaction, the chief executive officer now directly owns 61,698 shares in the company, valued at approximately $7,724,590. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
MMM has been the subject of a number of recent research reports. 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $123.92.
Shares of 3M (NYSE:MMM) traded up 0.73% during mid-day trading on Thursday, hitting $125.705. The stock had a trading volume of 676,081 shares. 3M has a 52 week low of $86.74 and a 52 week 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 $84.633 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 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that 3M will post $6.71 EPS for the current fiscal year.
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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