3M (NYSE:MMM) Stock Price Down 0.3%

3M (NYSE:MMM)’s stock price was down 0.3% on Wednesday . The company traded as low as $90.17 and last traded at $91.05. Approximately 3,036,971 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 5,144,722 shares. The stock had previously closed at $91.30.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MMM shares. Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Bank of America reduced their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. Barclays lowered their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada decreased their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $103.50.

3M Stock Down 0.3 %

The firm has a market cap of $50.38 billion, a PE ratio of -7.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The stock has a fifty day simple moving average of $95.87 and a two-hundred day simple moving average of $97.31.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the company earned $2.28 earnings per share. 3M’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts expect that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.82%.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MMM. Financial Freedom LLC bought a new position in shares of 3M during the 4th quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. DHJJ Financial Advisors Ltd. purchased a new stake in shares of 3M in the 3rd quarter valued at $28,000. Northwest Investment Counselors LLC bought a new position in shares of 3M during the 1st quarter valued at $32,000. Finally, Briaud Financial Planning Inc bought a new stake in 3M in the third quarter worth $35,000. Institutional investors own 65.25% of the company’s stock.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.