Today it was reported that the SVP of 3M Company (NYSE: MMM), Jon Lindekugel, exercised options to sell 6,410 MMM shares at $78.72 a share, for a total transaction value of $1.3M.
Following Jon Lindekugel’s last MMM Sell transaction on May 04, 2017, the stock climbed by 8.2%.
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Based on 3M Company’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $8.39 billion and quarterly net profit of $1.86 billion. In comparison, last year the company earned revenue of $7.81 billion and had a net profit of $1.58 billion. Currently, 3M Company has an average volume of 1.59M. The Company has a Price to Book ratio of 11.4300.
Eight different firms, including Barclays and Goldman Sachs, currently also have a Sell rating on the stock. Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $231.60, reflecting a -13.7% downside.
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