3M (NYSE:MMM) Trading 0.4% Higher

3M (NYSE:MMM)’s share price was up 0.4% during trading on Friday . The stock traded as high as $92.15 and last traded at $91.84. Approximately 720,532 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 5,827,142 shares. The stock had previously closed at $91.48.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America lowered their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Wells Fargo & Company dropped their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Citigroup increased their target price on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada reduced their price target on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $104.00.

3M Stock Performance

The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The stock has a market cap of $50.93 billion, a price-to-earnings ratio of -7.28, a P/E/G ratio of 1.61 and a beta of 1.02. The stock has a fifty day simple moving average of $95.77 and a two-hundred day simple moving average of $97.22.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating the consensus estimate 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 was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $2.28 earnings per share. Analysts expect that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.56%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is currently -47.82%.

Insider Transactions at 3M

In related 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 transaction of $39,328.32. Following the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale 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 Investors Weigh In On 3M

Institutional investors have recently added to or reduced their stakes in the business. Tributary Capital Management LLC bought a new stake in shares of 3M in the first quarter worth $25,000. Financial Freedom LLC bought a new stake in shares of 3M in the 4th quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. grew its position 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 buying an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of 3M during the first quarter worth about $32,000. Finally, Briaud Financial Planning Inc bought a new position in shares of 3M during the third quarter worth about $35,000. 65.25% of the stock is owned by institutional investors.

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.