3M Co (MMM) Insider Sells $1,301,294.10 in Stock

3M Co (NYSE:MMM) insider Jon T. Lindekugel sold 6,410 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $203.01, for a total value of $1,301,294.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of 3M stock opened at $199.84 on Tuesday. 3M Co has a fifty-two week low of $190.57 and a fifty-two week high of $259.77. The firm has a market cap of $118.47 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.56.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.01. 3M had a return on equity of 51.31% and a net margin of 13.44%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.36 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. analysts expect that 3M Co will post 10.37 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the company. ValuEngine lowered 3M from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Royal Bank of Canada raised 3M from a “sector perform” rating to an “outperform” rating and set a $238.00 target price on the stock in a research note on Thursday, May 3rd. They noted that the move was a valuation call. Barclays reduced their target price on 3M from $210.00 to $201.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 25th. UBS Group reduced their price target on 3M from $250.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, April 26th. Finally, Deutsche Bank reissued a “hold” rating and set a $208.00 price target on shares of 3M in a research note on Thursday, July 12th. Five analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $234.03.

Several hedge funds have recently added to or reduced their stakes in the company. Cadinha & Co. LLC increased its holdings in shares of 3M by 3.9% during the 2nd quarter. Cadinha & Co. LLC now owns 6,390 shares of the conglomerate’s stock worth $1,257,000 after buying an additional 240 shares during the last quarter. Montecito Bank & Trust increased its holdings in shares of 3M by 3.8% during the 2nd quarter. Montecito Bank & Trust now owns 6,680 shares of the conglomerate’s stock worth $1,314,000 after buying an additional 242 shares during the last quarter. REDW Stanley Financial Advisors LLC increased its holdings in shares of 3M by 8.2% during the 2nd quarter. REDW Stanley Financial Advisors LLC now owns 3,294 shares of the conglomerate’s stock worth $648,000 after buying an additional 250 shares during the last quarter. Ascension Asset Management LLC increased its holdings in shares of 3M by 3.3% during the 2nd quarter. Ascension Asset Management LLC now owns 7,775 shares of the conglomerate’s stock worth $1,529,000 after buying an additional 250 shares during the last quarter. Finally, Ausdal Financial Partners Inc. increased its holdings in shares of 3M by 12.2% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,338 shares of the conglomerate’s stock worth $460,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 67.16% of the company’s stock.

About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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