3M Co (NYSE:MMM) EVP Michael F. Roman sold 4,146 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the sale, the executive vice president now owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of 3M Co (NYSE:MMM) traded down $2.92 during trading hours on Tuesday, reaching $228.52. 2,173,121 shares of the company’s stock were exchanged, compared to its average volume of 2,572,104. 3M Co has a 12-month low of $175.15 and a 12-month high of $259.77. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The company has a market cap of $135,790.00, a price-to-earnings ratio of 28.77, a P/E/G ratio of 2.27 and a beta of 1.08.
3M (NYSE:MMM) last issued its earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.07. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 EPS. analysts expect that 3M Co will post 10.6 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in 3M by 8.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,024,371 shares of the conglomerate’s stock worth $476,476,000 after acquiring an additional 159,668 shares during the last quarter. Hedeker Wealth LLC boosted its stake in 3M by 5.1% during the 4th quarter. Hedeker Wealth LLC now owns 16,948 shares of the conglomerate’s stock worth $3,989,000 after acquiring an additional 825 shares during the last quarter. Aries Wealth Management bought a new position in 3M during the 4th quarter worth approximately $2,094,000. Cypress Wealth Services LLC bought a new position in 3M during the 4th quarter worth approximately $267,000. Finally, Milestone Group Inc. bought a new position in 3M during the 4th quarter worth approximately $209,000. 66.38% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. Vetr upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $250.06 target price for the company in a research report on Monday. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Tuesday, January 30th. Royal Bank of Canada reiterated a “hold” rating and set a $254.00 target price on shares of 3M in a research report on Thursday, January 25th. Hilliard Lyons upgraded shares of 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a research report on Wednesday, January 24th. Finally, UBS Group assumed coverage on shares of 3M in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. 3M presently has an average rating of “Hold” and an average price target of $249.63.
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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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