3M (NYSE:MMM) Shares Up 0.4%

3M (NYSE:MMM)’s stock price rose 0.4% on Thursday . The stock traded as high as $96.72 and last traded at $96.69. Approximately 344,279 shares changed hands during trading, a decline of 94% from the average daily volume of 5,782,859 shares. The stock had previously closed at $96.35.

Wall Street Analyst Weigh In

MMM has been the topic of a number of analyst reports. UBS Group upped their price objective on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Royal Bank of Canada increased their price target on shares of 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and raised their target price for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. Finally, Barclays lowered their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $103.70.

3M Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. The company has a 50 day moving average of $96.40 and a 200-day moving average of $97.83. The firm has a market capitalization of $53.86 billion, a P/E ratio of -7.65, a P/E/G ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The company had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the previous year, the business posted $1.97 earnings per share. On average, sell-side analysts predict that 3M will post 7.23 EPS for the current year.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred 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 sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by company insiders.

Institutional Trading of 3M

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tributary Capital Management LLC bought a new position in shares of 3M in the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. boosted its stake in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in 3M in the first quarter valued at about $32,000. Briaud Financial Planning Inc bought a new stake in shares of 3M during the third quarter valued at approximately $35,000. Finally, Livelsberger Financial Advisory acquired a new position in 3M during the fourth quarter worth $35,000. Institutional investors 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.