Insider Selling: 3M Company (MMM) EVP Sells 2,000 Shares of Stock

3M Company (NYSE:MMM) EVP James L. Bauman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $230.89, for a total transaction of $461,780.00. Following the completion of the transaction, the executive vice president now owns 14,362 shares of the company’s stock, valued at $3,316,042.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

3M (NYSE:MMM) last posted its quarterly 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 for 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.15 earnings per share.

WARNING: “Insider Selling: 3M Company (MMM) EVP Sells 2,000 Shares of Stock” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/11/02/insider-selling-3m-company-mmm-evp-sells-2000-shares-of-stock.html.

A number of analysts recently weighed in on MMM shares. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Bank of America Corporation restated a “buy” rating and set a $227.00 target price on shares of 3M in a report on Thursday, September 14th. Credit Suisse Group restated an “outperform” rating and set a $237.00 target price (up from $229.00) on shares of 3M in a report on Wednesday, October 11th. Citigroup Inc. raised their target price on shares of 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Morgan Stanley restated an “underweight” rating and set a $191.00 target price (down from $193.00) on shares of 3M in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. 3M has a consensus rating of “Hold” and a consensus target price of $230.44.

Several institutional investors and hedge funds have recently modified their holdings of MMM. American Century Companies Inc. raised its position in shares of 3M by 37.1% in the first quarter. American Century Companies Inc. now owns 3,148,266 shares of the conglomerate’s stock valued at $602,358,000 after purchasing an additional 852,262 shares during the period. Karp Capital Management Corp raised its position in shares of 3M by 16,353.8% in the first quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock valued at $94,947,000 after purchasing an additional 493,230 shares during the period. Swiss National Bank raised its position in shares of 3M by 26.6% in the first quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock valued at $407,782,000 after purchasing an additional 447,900 shares during the period. Capital Research Global Investors bought a new position in shares of 3M in the second quarter valued at about $89,237,000. Finally, Bank of New York Mellon Corp raised its position in shares of 3M by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock valued at $1,309,651,000 after purchasing an additional 300,345 shares during the period. 66.21% of the stock is currently 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.

Insider Buying and Selling by Quarter for 3M (NYSE:MMM)

What are top analysts saying about 3M Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for 3M Company and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit