3M EVP Sells $593,366 in Stock (MMM)
3M (NYSE:MMM) EVP Brad T. Sauer sold 4,235 shares of 3M stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $140.11, for a total value of $593,365.85. Following the transaction, the executive vice president now directly owns 20,869 shares of the company’s stock, valued at approximately $2,923,956. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
3M (NYSE:MMM) traded down 0.89% during mid-day trading on Tuesday, hitting $140.415. The stock had a trading volume of 1,461,048 shares. 3M has a 52-week low of $107.15 and a 52-week high of $143.37. The stock has a 50-day moving average of $138.0 and a 200-day moving average of $133.. The company has a market cap of $91.870 billion and a P/E ratio of 20.53.
3M (NYSE:MMM) last announced its earnings results on Thursday, April 24th. The company reported $1.79 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.80 by $0.01. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.96 billion. During the same quarter last year, the company posted $1.61 earnings per share. 3M’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that 3M will post $7.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.855 per share. This represents a $3.42 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, May 21st.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of 3M in a research note on Friday, April 25th. They now have a $145.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of 3M in a research note on Friday, April 25th. They now have a $143.00 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of 3M from $128.00 to $129.00 in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $141.08.
3M Company (NYSE:MMM) is a diversified technology company.
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