3M (NYSE:MMM) Stock Price Up 0.6%

Shares of 3M (NYSE:MMM) were up 0.6% on Thursday . The stock traded as high as $105.57 and last traded at $105.25. Approximately 821,178 shares were traded during trading, a decline of 84% from the average daily volume of 5,046,428 shares. The stock had previously closed at $104.59.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MMM shares. Citigroup reduced their target price on 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. StockNews.com assumed coverage on 3M in a report on Wednesday. They issued a “buy” rating on the stock. Barclays upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $111.00 to $126.00 in a report on Tuesday, March 19th. Mizuho restated a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $84.00 price target on shares of 3M in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $107.60.

3M Trading Up 1.4 %

The business has a 50-day simple moving average of $96.86 and a two-hundred day simple moving average of $97.78. The stock has a market cap of $58.61 billion, a price-to-earnings ratio of -8.40, a P/E/G ratio of 1.45 and a beta of 1.00. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M (NYSE:MMM) last posted its earnings results 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 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 the consensus estimate of $7.69 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts forecast that 3M will post 9.77 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 5.70%. 3M’s dividend payout ratio is presently -47.82%.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s 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 completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On 3M

Several institutional investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in 3M by 15.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after purchasing an additional 14,775 shares during the last quarter. Cornerstone Wealth Group LLC bought a new stake in 3M during the third quarter worth $3,855,000. Shoker Investment Counsel Inc. lifted its stake in 3M by 49.7% during the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after purchasing an additional 5,561 shares during the last quarter. Diversified Trust Co lifted its stake in 3M by 1.4% during the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after purchasing an additional 263 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in 3M during the third quarter worth $11,908,000. 65.25% of the stock is currently owned by institutional investors.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.