Insider Selling: 3M Company (MMM) VP Sells 4,004 Shares of Stock
3M Company (NYSE:MMM) VP Khandpur K. Ashish sold 4,004 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total transaction of $926,485.56. Following the transaction, the vice president now owns 5,236 shares in the company, valued at approximately $1,211,558.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
3M Company (NYSE MMM) traded up $1.16 during midday trading on Friday, hitting $231.34. 610,122 shares of the stock traded hands, compared to its average volume of 2,143,291. The stock has a market cap of $138,318.08, a P/E ratio of 25.95 and a beta of 1.08.
3M (NYSE:MMM) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 EPS. equities research analysts forecast that 3M Company will post 9.08 EPS for the current year.
A number of analysts have commented on MMM shares. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Bank of America Corporation restated a “buy” rating and set a $227.00 price target on shares of 3M in a research note on Thursday, September 14th. Credit Suisse Group restated an “outperform” rating and set a $237.00 price target (up previously from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Citigroup Inc. boosted their price target on shares of 3M from $250.00 to $262.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley restated an “underweight” rating and set a $191.00 price target (down previously from $193.00) on shares of 3M in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $230.44.
A number of institutional investors and hedge funds have recently bought and sold shares of MMM. Smithfield Trust Co. grew its position in 3M by 0.7% during the first quarter. Smithfield Trust Co. now owns 17,364 shares of the conglomerate’s stock valued at $3,322,000 after buying an additional 122 shares during the period. One Capital Management LLC bought a new position in 3M during the first quarter valued at about $202,000. Schaper Benz & Wise Investment Counsel Inc. WI grew its position in 3M by 9.6% during the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 1,454 shares of the conglomerate’s stock valued at $278,000 after buying an additional 127 shares during the period. PBWM Holdings LLC bought a new position in 3M during the first quarter valued at about $377,000. Finally, Usca Ria LLC grew its position in 3M by 6.4% during the first quarter. Usca Ria LLC now owns 3,301 shares of the conglomerate’s stock valued at $632,000 after buying an additional 200 shares during the period. Institutional investors own 66.21% of the company’s stock.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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