3M (NYSE:MMM) Stock Price Down 1.1%

3M (NYSE:MMM)’s share price dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $90.17 and last traded at $90.34. Approximately 681,395 shares changed hands during trading, a decline of 89% from the average daily volume of 5,938,007 shares. The stock had previously closed at $91.30.

Wall Street Analyst Weigh In

MMM has been the topic of a number of analyst reports. Mizuho reiterated a “neutral” rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. Barclays dropped their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Bank of America dropped their target price 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. 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. Finally, Royal Bank of Canada dropped their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a report 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 data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and a consensus target price of $104.00.

3M Trading Down 0.1 %

The business’s fifty day moving average is $95.81 and its 200-day moving average is $97.26. The firm has a market cap of $50.33 billion, a P/E ratio of -7.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. 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 issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $2.28 EPS. Analysts predict that 3M will post 8.79 EPS for the current year.

3M Increases Dividend

The company also recently declared 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 a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 6.64%. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Large investors have recently modified their holdings of the stock. Financial Freedom LLC acquired a new stake in shares of 3M during the 4th quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of 3M during the 1st quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new stake in shares of 3M during the 4th quarter worth approximately $35,000. Finally, CGC Financial Services LLC grew its position in shares of 3M by 89.9% during 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 period. 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.