3M (NYSE:MMM) Shares Up 1.4%

3M (NYSE:MMM)’s share price traded up 1.4% during trading on Thursday . The stock traded as high as $92.43 and last traded at $92.27. 704,956 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,866,212 shares. The stock had previously closed at $90.96.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company cut their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Barclays cut their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lowered their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.00.

3M Stock Performance

The firm has a market capitalization of $50.43 billion, a P/E ratio of -7.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The stock has a 50-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.

3M (NYSE:MMM) last released 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. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. 3M’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 EPS. On average, research analysts anticipate that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. 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 yield of 6.63%. 3M’s dividend payout ratio is currently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Financial Freedom LLC acquired a new position in shares of 3M in the 4th quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. lifted its stake in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of 3M in the 1st quarter valued at $32,000. Briaud Financial Planning Inc acquired a new position in shares of 3M in the 3rd quarter valued at $35,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of 3M in the 4th quarter valued at $35,000. 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.