3M (NYSE:MMM) Releases Earnings Results, Beats Expectations By $0.11 EPS

3M (NYSE:MMM - Get Free Report) posted its 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 net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion.

3M Stock Down 1.1 %

NYSE MMM traded down $1.58 during trading hours on Friday, hitting $137.30. The company's stock had a trading volume of 2,141,243 shares, compared to its average volume of 4,177,216. The company has a market capitalization of $74.05 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 52 week low of $91.08 and a 52 week high of $156.35. The company's 50-day simple moving average is $143.15 and its two-hundred day simple moving average is $138.21.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a dividend of $0.73 per share. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio is 38.68%.

Insider Transactions at 3M

In other news, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,736 shares of company stock worth $9,081,260 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 3M

An institutional investor recently raised its position in 3M stock. Brighton Jones LLC boosted its position in shares of 3M (NYSE:MMM - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,898 shares of the conglomerate's stock after acquiring an additional 1,872 shares during the period. Brighton Jones LLC's holdings in 3M were worth $1,149,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MMM shares. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. dropped their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup cut their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada upped their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday. Finally, Barclays upped their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $147.00.

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.