3M (NYSE:MMM) Shares Down 0%

Shares of 3M (NYSE:MMM) traded down 0% during mid-day trading on Monday . The company traded as low as $96.89 and last traded at $97.12. 853,977 shares changed hands during trading, a decline of 85% from the average session volume of 5,846,864 shares. The stock had previously closed at $97.15.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MMM. Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Citigroup increased their target price on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Barclays cut their price target 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. Finally, Royal Bank of Canada upped their target price on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.70.

3M Stock Down 0.6 %

The firm has a market cap of $53.45 billion, a P/E ratio of -7.64, a P/E/G ratio of 1.79 and a beta of 1.00. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The firm’s fifty day moving average is $96.14 and its 200 day moving average is $97.71.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same period last year, the firm earned $1.97 earnings per share. As a group, equities research analysts anticipate that 3M will post 7.23 earnings per share 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. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is currently -47.48%.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’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 value of $39,328.32. Following the transaction, 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 can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 3M

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tributary Capital Management LLC purchased a new position in 3M in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. boosted its holdings 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 worth $26,000 after buying an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in 3M during the first quarter valued at about $32,000. Livelsberger Financial Advisory purchased a new stake in 3M during the fourth quarter worth about $35,000. Finally, CGC Financial Services LLC raised its position in 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares during the period. 65.25% of the stock is owned by hedge funds and other 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.