Christian T. Goralski Jr., who serves as group president at 3M Co (NYSE: MMM), completed a series of small purchases of the company’s common stock between May 30, 2024 and October 23, 2024. Over four separate transactions he acquired a total of 17 shares at prices ranging from $97.257 to $127.99, for an aggregate cost of $1,822. The purchases included shares obtained through 3M’s General Employee Stock Purchase Plan.
The installment purchases were executed as follows: 9 shares on May 30, 2024; 3 shares on June 27, 2024; 3 shares on August 15, 2024; and 2 shares on October 23, 2024. After these transactions Goralski directly holds 6,971.28 shares of 3M common stock. The company’s shares are trading at $150.48 as of the most recent price cited, representing unrealized gains on the sequence of purchases.
Beyond the insider buying activity, 3M has several corporate developments that may be of interest to investors and market observers. The company reached an agreement to form a joint venture with Bain Capital to acquire Madison Fire & Rescue and fold it into 3M’s Scott Safety business. Under the terms disclosed, 3M will receive $700 million in cash as part of the transaction and will retain a 50.1% ownership position in the joint venture, while Bain Capital will own the remaining 49.9%.
In a separate operational initiative, 3M announced plans to meaningfully expand U.S. manufacturing capacity for its Expanded Beam Optical interconnect technology, citing demand from AI data center applications. The company has also named Meagan Linn as senior vice president of government affairs, a role in which she will oversee engagement with government entities and efforts to secure growth through government contracts.
On the financial and market-facing side, both Argus and UBS have reiterated Buy ratings on 3M stock and maintained identical $190 price targets. Argus framed the recent period of share weakness as a buying opportunity tied to expectations for improved revenue and earnings, while UBS’s view follows a meeting with 3M management.
For income-focused investors, 3M has a long record of dividend distributions, having paid dividends for 56 consecutive years and currently offering a yield of 2.09% based on the most recent information provided.
Information in this report is based on the transaction and corporate details provided. The article does not add facts beyond those disclosed in the transaction notices and company announcements cited above.