3M (NYSE:MMM) Stock Price Down 1.1%

3M (NYSE:MMM)’s stock price fell 1.1% on Tuesday . The stock traded as low as $90.17 and last traded at $90.34. 681,395 shares changed hands during trading, a decline of 89% from the average session volume of 5,938,007 shares. The stock had previously closed at $91.30.

Analysts Set New Price Targets

Several equities research analysts recently commented on MMM shares. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. Citigroup lifted their price objective on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. JPMorgan Chase & Co. reduced their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays reduced their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.00.

3M Trading Down 0.1 %

The stock has a fifty day moving average of $95.81 and a 200 day moving average of $97.26. 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 company has a market capitalization of $50.33 billion, a PE ratio of -7.20, a PEG ratio of 1.61 and a beta of 1.02.

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

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.64%. 3M’s payout ratio is currently -47.82%.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

Institutional Trading of 3M

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in 3M by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock worth $4,590,533,000 after acquiring an additional 317,483 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 3M by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,080,578 shares of the conglomerate’s stock valued at $1,320,649,000 after purchasing an additional 43,732 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 3M by 5.7% during the 1st quarter. Geode Capital Management LLC now owns 11,474,791 shares of the conglomerate’s stock valued at $1,203,635,000 after purchasing an additional 619,370 shares during the last quarter. Morgan Stanley increased its position in shares of 3M by 8.3% during the 4th quarter. Morgan Stanley now owns 10,769,973 shares of the conglomerate’s stock valued at $1,291,535,000 after purchasing an additional 825,223 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of 3M by 0.6% during the 1st quarter. Northern Trust Corp now owns 7,413,149 shares of the conglomerate’s stock valued at $1,103,670,000 after purchasing an additional 44,714 shares during the last quarter. 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.