3M (NYSE:MMM) Trading Up 0.1%

Shares of 3M (NYSE:MMM) rose 0.1% during mid-day trading on Friday . The company traded as high as $133.93 and last traded at $133.09. Approximately 951,368 shares changed hands during trading, a decline of 82% from the average daily volume of 5,194,145 shares. The stock had previously closed at $132.91.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MMM. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, July 30th. Citigroup lifted their price objective on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Barclays lifted their target price on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a report on Monday, July 29th. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, 3M currently has an average rating of “Hold” and a consensus price target of $123.57.

3M Stock Up 0.6 %

The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $73.96 billion, a price-to-earnings ratio of -10.46, a P/E/G ratio of 2.34 and a beta of 0.95. The stock has a 50 day moving average of $114.29 and a 200 day moving average of $103.13.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period in the previous year, the business earned $2.17 EPS. As a group, analysts expect that 3M will post 7.21 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.10%. 3M’s dividend payout ratio (DPR) is -22.01%.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 3M

A number of hedge funds and other institutional investors have recently modified their holdings of MMM. Fortis Capital Advisors LLC lifted its stake in shares of 3M by 2.9% in the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after acquiring an additional 84 shares during the period. Brown Brothers Harriman & Co. boosted its stake in 3M by 0.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock valued at $2,311,000 after purchasing an additional 97 shares in the last quarter. AMG National Trust Bank boosted its stake in 3M by 3.1% during the 2nd quarter. AMG National Trust Bank now owns 3,326 shares of the conglomerate’s stock valued at $340,000 after purchasing an additional 100 shares in the last quarter. Platinum Investment Management Ltd. increased its position in shares of 3M by 11.4% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate’s stock valued at $108,000 after purchasing an additional 104 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of 3M by 2.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock worth $562,000 after buying an additional 105 shares in the last quarter. 65.25% of the stock is currently 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.