3M (NYSE:MMM) Stock Price Down 0%

3M (NYSE:MMM) was down 0% on Monday . The stock traded as low as $96.89 and last traded at $97.12. Approximately 853,977 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 5,846,864 shares. The stock had previously closed at $97.15.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MMM. Mizuho reissued a “neutral” rating and set a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. Bank of America cut their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. UBS Group boosted their price objective on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Royal Bank of Canada boosted their price target on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $103.70.

3M Price Performance

The company has a 50 day moving average price of $96.14 and a 200-day moving average price of $97.71. The company has a market cap of $53.45 billion, a price-to-earnings ratio of -7.64, a P/E/G ratio of 1.79 and a beta of 1.00. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.29. The firm had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same period in the prior year, the company posted $1.97 EPS. As a group, equities research analysts predict that 3M will post 7.23 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a $1.51 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date was Thursday, February 15th. 3M’s payout ratio is currently -47.48%.

Insiders Place Their Bets

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On 3M

Large investors have recently added to or reduced their stakes in the business. Tributary Capital Management LLC acquired a new stake in shares of 3M during the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. grew its holdings in 3M by 419.1% in 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 period. Northwest Investment Counselors LLC bought a new stake in 3M in the first quarter valued at $32,000. Livelsberger Financial Advisory bought a new position in shares of 3M during the 4th quarter worth about $35,000. Finally, CGC Financial Services LLC grew its stake in shares of 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares during the period. 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.