Ippocratis Vrohidis Sells 8,153 Shares of 3M Co (MMM) Stock

3M Co (NYSE:MMM) VP Ippocratis Vrohidis sold 8,153 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $199.51, for a total transaction of $1,626,605.03. Following the transaction, the vice president now directly owns 786 shares of the company’s stock, valued at $156,814.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

NYSE:MMM opened at $206.57 on Wednesday. 3M Co has a 1-year low of $176.87 and a 1-year high of $244.86. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29. The firm has a market capitalization of $115.06 billion, a P/E ratio of 19.75, a PEG ratio of 1.84 and a beta of 1.06.

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3M (NYSE:MMM) last released its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.03. 3M had a net margin of 16.33% and a return on equity of 57.70%. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same period last year, the business earned $2.10 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that 3M Co will post 10.67 EPS for the current year.

3M declared that its board has authorized a stock repurchase plan on Tuesday, November 13th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the conglomerate to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Friday, February 15th will be paid a $1.44 dividend. The ex-dividend date is Thursday, February 14th. This is a boost from 3M’s previous quarterly dividend of $1.36. This represents a $5.76 annualized dividend and a dividend yield of 2.79%. 3M’s dividend payout ratio (DPR) is currently 52.01%.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in 3M by 3.0% during the fourth quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock worth $7,435,433,000 after purchasing an additional 1,152,714 shares during the period. Oregon Public Employees Retirement Fund boosted its position in 3M by 17,350.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 26,742,875 shares during the period. Northern Trust Corp boosted its position in 3M by 2.4% during the fourth quarter. Northern Trust Corp now owns 8,011,899 shares of the conglomerate’s stock worth $1,526,587,000 after purchasing an additional 186,257 shares during the period. Bank of New York Mellon Corp boosted its position in 3M by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 6,727,135 shares of the conglomerate’s stock worth $1,323,362,000 after purchasing an additional 537,325 shares during the period. Finally, Morgan Stanley boosted its position in 3M by 11.9% during the third quarter. Morgan Stanley now owns 4,042,904 shares of the conglomerate’s stock worth $851,879,000 after purchasing an additional 430,262 shares during the period. 70.67% of the stock is owned by institutional investors and hedge funds.

MMM has been the subject of several research reports. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. Barclays decreased their price target on shares of 3M from $201.00 to $195.00 and set an “underweight” rating for the company in a research note on Wednesday, October 24th. Citigroup decreased their price target on shares of 3M from $251.00 to $228.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Credit Suisse Group decreased their price target on shares of 3M from $228.00 to $222.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $213.00 price target on shares of 3M in a research note on Wednesday, December 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $214.57.

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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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