3M Company (NYSE:MMM) insider Frank R. Jr. Little sold 1,500 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of 3M Company (NYSE:MMM) opened at 231.02 on Tuesday. The firm’s 50-day moving average is $217.03 and its 200-day moving average is $207.24. The stock has a market capitalization of $137.87 billion, a price-to-earnings ratio of 26.35 and a beta of 1.09. 3M Company has a one year low of $163.85 and a one year high of $238.90.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The company had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the firm earned $2.15 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts forecast that 3M Company will post $9.08 EPS for the current year.
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Several research firms have recently commented on MMM. Royal Bank Of Canada reaffirmed a “hold” rating and set a $209.00 price target on shares of 3M in a research report on Friday, September 15th. Jefferies Group LLC increased their target price on shares of 3M to $262.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. J P Morgan Chase & Co lowered shares of 3M from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $185.00 to $201.00 in a report on Wednesday, September 20th. Stifel Nicolaus increased their target price on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Morgan Stanley increased their target price on shares of 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. 3M has a consensus rating of “Hold” and an average target price of $230.44.
A number of institutional investors have recently bought and sold shares of the business. MPS Loria Financial Planners LLC acquired a new stake in shares of 3M in the 2nd quarter valued at approximately $124,000. Hoertkorn Richard Charles acquired a new stake in shares of 3M in the 3rd quarter valued at approximately $126,000. Proficio Capital Partners LLC lifted its holdings in shares of 3M by 156.0% in the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after buying an additional 404 shares during the period. Jackson Grant Investment Advisers Inc. lifted its holdings in shares of 3M by 0.6% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after buying an additional 4 shares during the period. Finally, Harfst & Associates Inc. lifted its holdings in shares of 3M by 17.0% in the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after buying an additional 100 shares during the period. 66.21% of the stock is owned by institutional investors.
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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