3M (NYSE:MMM) Shares Up 0.5%

3M (NYSE:MMMGet Free Report) rose 0.5% during trading on Monday . The company traded as high as $102.70 and last traded at $101.79. Approximately 415,102 shares traded hands during trading, a decline of 92% from the average daily volume of 5,389,205 shares. The stock had previously closed at $101.32.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of analyst reports. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. StockNews.com started coverage on 3M in a research note on Thursday, June 6th. They set a “buy” rating for the company. Wolfe Research upgraded 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a research note on Thursday, June 13th. UBS Group raised their price objective on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Vertical Research upgraded 3M from a “hold” rating to a “buy” rating and raised their price objective for the stock from $92.00 to $140.00 in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $112.00.

View Our Latest Research Report on 3M

3M Price Performance

The stock has a fifty day moving average of $100.39 and a two-hundred day moving average of $98.98. The stock has a market capitalization of $56.29 billion, a price-to-earnings ratio of -7.86, a PEG ratio of 1.88 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17.

3M (NYSE:MMMGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The firm had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same period last year, the firm posted $1.97 EPS. As a group, equities research analysts forecast that 3M will post 7.17 earnings per share for the current year.

3M Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.75%. 3M’s dividend payout ratio is -22.01%.

Institutional Investors Weigh In On 3M

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jade Capital Advisors LLC acquired a new stake in shares of 3M in the 4th quarter valued at $4,373,000. MWA Asset Management acquired a new stake in shares of 3M in the 4th quarter valued at $1,723,000. Scarborough Advisors LLC acquired a new stake in shares of 3M in the 4th quarter valued at $978,000. Diversified Trust Co increased its stake in shares of 3M by 1.4% in the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock valued at $2,021,000 after buying an additional 263 shares during the period. Finally, KMG Fiduciary Partners LLC increased its stake in shares of 3M by 2.2% in the 1st quarter. KMG Fiduciary Partners LLC now owns 14,769 shares of the conglomerate’s stock valued at $1,567,000 after buying an additional 311 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Company Profile

(Get Free Report)

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.

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