3M Company (NYSE:MMM) CAO Ippocratis Vrohidis sold 1,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $230.34, for a total value of $397,336.50. Following the transaction, the chief accounting officer now owns 898 shares in the company, valued at $206,845.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of 3M Company (NYSE:MMM) opened at $232.22 on Friday. The stock has a market capitalization of $138,312.08, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 2.52 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. 3M Company has a 12-month low of $165.84 and a 12-month high of $238.90.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.15 earnings per share. equities research analysts expect that 3M Company will post 9.08 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in MMM. Advisory Services Network LLC purchased a new stake in 3M in the first quarter valued at approximately $1,390,000. Smithfield Trust Co. increased its position in shares of 3M by 0.7% during the first quarter. Smithfield Trust Co. now owns 17,364 shares of the conglomerate’s stock worth $3,322,000 after acquiring an additional 122 shares during the period. One Capital Management LLC purchased a new stake in shares of 3M during the first quarter worth $202,000. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of 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 worth $278,000 after acquiring an additional 127 shares during the period. Finally, PBWM Holdings LLC purchased a new stake in shares of 3M during the first quarter worth $377,000. 66.21% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on MMM shares. 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. Stifel Nicolaus restated a “hold” rating and set a $202.00 target price on shares of 3M in a report on Wednesday, July 19th. BidaskClub cut 3M from a “buy” rating to a “hold” rating in a report on Monday, July 24th. William Blair restated an “outperform” rating on shares of 3M in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $209.00 target price (down from $210.00) on shares of 3M in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $230.44.
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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