3M (NYSE:MMM) Shares Down 0.1%

3M (NYSE:MMM)’s share price fell 0.1% during mid-day trading on Monday . The company traded as low as $91.85 and last traded at $92.17. 514,438 shares traded hands during trading, a decline of 91% from the average session volume of 5,798,218 shares. The stock had previously closed at $92.27.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MMM. Wells Fargo & Company dropped their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada dropped their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 16th. Bank of America dropped their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Finally, Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.00.

3M Stock Up 0.4 %

The company has a market cap of $51.46 billion, a PE ratio of -7.36, a P/E/G ratio of 1.83 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The firm’s fifty day simple moving average is $95.73 and its 200-day simple moving average is $97.43.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (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 for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that 3M will post 7.87 earnings per share 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 given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’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 transaction, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On 3M

A number of institutional investors have recently modified their holdings of the company. Tributary Capital Management LLC acquired a new position in 3M during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. increased its position in 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 during the last quarter. Northwest Investment Counselors LLC acquired a new position in 3M during the first quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new position in 3M during the fourth quarter worth approximately $35,000. Finally, CGC Financial Services LLC increased its position in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds 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.