3M (NYSE:MMM) Announces Earnings Results

3M (NYSE:MMM - Get Free Report) issued its quarterly earnings results on Tuesday. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11, Zacks reports. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion.

3M Price Performance

NYSE MMM traded down $1.58 on Friday, hitting $137.30. The company had a trading volume of 2,141,243 shares, compared to its average volume of 4,177,216. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market capitalization of $74.05 billion, a PE ratio of 18.19, a PEG ratio of 3.30 and a beta of 1.01. 3M has a 12-month low of $91.08 and a 12-month high of $156.35. The company's fifty day moving average price is $143.15 and its 200-day moving average price is $138.21.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.13%. 3M's dividend payout ratio (DPR) is 38.68%.

Wall Street Analyst Weigh In

MMM has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Royal Bank of Canada raised their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Thursday. Finally, Citigroup reduced their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $147.00.

Insider Activity

In other 3M news, EVP Kevin H. Rhodes sold 6,743 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the completion of the sale, the executive vice president now directly owns 4,902 shares in the company, valued at approximately $734,564.70. The trade was a 57.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael F. Roman sold 49,598 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,736 shares of company stock worth $9,081,260 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in 3M stock. Brighton Jones LLC raised its stake in 3M (NYSE:MMM - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,898 shares of the conglomerate's stock after buying an additional 1,872 shares during the quarter. Brighton Jones LLC's holdings in 3M were worth $1,149,000 at the end of the most recent quarter. 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.