3M (NYSE:MMM) Shares Down 0.1%

Shares of 3M (NYSE:MMM) dropped 0.1% during trading on Monday . The stock traded as low as $91.85 and last traded at $92.17. Approximately 514,438 shares were traded during trading, a decline of 91% from the average daily volume of 5,798,218 shares. The stock had previously closed at $92.27.

Analyst Ratings Changes

MMM has been the subject of several research reports. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Barclays cut their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Royal Bank of Canada cut their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Finally, Citigroup raised their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $104.00.

3M Price Performance

The stock’s 50-day moving average is $95.73 and its 200-day moving average is $97.43. The firm has a market cap of $51.46 billion, a P/E ratio of -7.36, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. 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 announced its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm posted $2.28 earnings per share. 3M’s revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that 3M will post 7.87 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.49%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is -47.82%.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction 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 sale, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 3M

Institutional investors have recently bought and sold shares of the business. Tributary Capital Management LLC acquired a new stake in 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. boosted 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 in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of 3M during the 1st quarter worth about $32,000. Briaud Financial Planning Inc acquired a new stake in shares of 3M during the 3rd quarter worth about $35,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of 3M during the 4th quarter worth about $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.