3M (NYSE:MMM) Trading Up 0.7%

3M (NYSE:MMM)’s stock price was up 0.7% on Monday . The company traded as high as $92.78 and last traded at $91.92. Approximately 1,117,545 shares changed hands during trading, a decline of 81% from the average daily volume of 5,974,752 shares. The stock had previously closed at $91.31.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada reduced their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Citigroup upped their price target on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company reduced their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Finally, StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $103.50.

3M Stock Down 0.3 %

The business’s 50 day moving average is $95.87 and its 200-day moving average is $97.31. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The firm has a market capitalization of $50.38 billion, a price-to-earnings ratio of -7.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period last year, the business posted $2.28 EPS. 3M’s revenue was down 1.1% compared to the same quarter last year. Equities analysts anticipate that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.63%. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Insider Transactions at 3M

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 completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

Institutional Trading of 3M

A number of institutional investors have recently bought and sold shares of MMM. Financial Freedom LLC bought a new position in shares of 3M during the fourth quarter worth $25,000. Financial Synergies Wealth Advisors Inc. boosted its position 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 purchasing an additional 197 shares in the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in 3M in the 3rd quarter valued at $28,000. Northwest Investment Counselors LLC bought a new stake in 3M in the 1st quarter valued at $32,000. Finally, Livelsberger Financial Advisory bought a new stake in 3M during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

About 3M

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.