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

Share on StockTwits

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 shares were sold at an average price of $199.51, for a total value of $1,626,605.03. Following the completion of the sale, the vice president now directly owns 786 shares of the company’s stock, valued at $156,814.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of MMM stock opened at $209.72 on Thursday. The firm has a market cap of $115.06 billion, a P/E ratio of 20.05, a PEG ratio of 1.84 and a beta of 1.06. 3M Co has a 1 year low of $176.87 and a 1 year high of $244.86. The company has a quick ratio of 1.29, a current ratio of 1.89 and a debt-to-equity ratio of 1.36.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.03. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $7.87 billion. 3M had a return on equity of 57.70% and a net margin of 16.33%. 3M’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 earnings per share. As a group, research analysts predict that 3M Co will post 10.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Friday, February 15th will be given a dividend of $1.44 per share. This is an increase from 3M’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $5.76 annualized dividend and a yield of 2.75%. 3M’s dividend payout ratio (DPR) is presently 52.01%.

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

MMM has been the subject of several recent analyst reports. Argus reduced their price target on 3M from $240.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Citigroup reduced their price objective on 3M from $251.00 to $228.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $213.00 price objective on shares of 3M in a report on Wednesday, December 19th. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Finally, Deutsche Bank lifted their price objective on 3M from $206.00 to $210.00 and gave the stock a “hold” rating in a report on Friday, November 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. 3M currently has a consensus rating of “Hold” and an average price target of $214.57.

Institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC purchased a new position in 3M during the fourth quarter worth $35,000. Intercontinental Wealth Advisors LLC purchased a new position in 3M during the fourth quarter worth $38,000. Essex Investment Management Co. LLC purchased a new position in 3M during the fourth quarter worth $39,000. Westside Investment Management Inc. increased its position in 3M by 96.2% during the fourth quarter. Westside Investment Management Inc. now owns 255 shares of the conglomerate’s stock worth $49,000 after buying an additional 125 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in 3M during the fourth quarter worth $72,000. 70.67% of the stock is owned by institutional investors.

WARNING: “Ippocratis Vrohidis Sells 8,153 Shares of 3M Co (MMM) Stock” was originally reported by Equities Focus and is owned by of Equities Focus. If you are viewing this piece on another site, it was copied illegally and republished in violation of US & international copyright & trademark law. The correct version of this piece can be accessed at https://www.equitiesfocus.com/2019/02/14/ippocratis-vrohidis-sells-8153-shares-of-3m-co-mmm-stock.html.

3M Company Profile

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.

Featured Article: Capital gains and your 401(k) or IRA

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply