3M (NYSE:MMM) Trading 0.2% Higher

3M (NYSE:MMM) traded up 0.2% during trading on Friday . The stock traded as high as $92.19 and last traded at $91.58. 656,894 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,679,572 shares. The stock had previously closed at $91.41.

Wall Street Analyst Weigh In

MMM has been the subject of a number of recent analyst reports. Citigroup increased their price target on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company dropped their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Mizuho restated a “neutral” rating and set a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Bank of America reduced their target price on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, 3M has a consensus rating of “Hold” and an average target price of $104.00.

3M Stock Up 0.4 %

The company has a market capitalization of $50.80 billion, a P/E ratio of -7.25, a price-to-earnings-growth ratio of 1.82 and a beta of 1.02. The company has a 50-day moving average of $95.70 and a two-hundred day moving average of $97.35. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 EPS. On average, research analysts predict that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio is -47.82%.

Insider Activity

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction 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 directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tributary Capital Management LLC bought a new stake in shares of 3M during the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 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 last quarter. Northwest Investment Counselors LLC bought a new position in shares of 3M during the first quarter valued at $32,000. Livelsberger Financial Advisory purchased a new stake in shares of 3M during the fourth quarter valued at $35,000. Finally, CGC Financial Services LLC raised its position in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

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.