3M (NYSE:MMM) Trading Down 4.3% - Should You Sell?

Shares of 3M Company (NYSE:MMM - Get Free Report) dropped 4.3% during mid-day trading on Friday . The company traded as low as $151.17 and last traded at $152.22. Approximately 4,957,695 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 3,807,868 shares. The stock had previously closed at $159.04.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MMM shares. Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a report on Friday. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a report on Friday. Citigroup raised their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Royal Bank Of Canada raised their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Saturday, July 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.33.

3M Stock Performance

The company has a market capitalization of $82.78 billion, a PE ratio of 21.39, a PEG ratio of 2.98 and a beta of 1.02. The business's 50-day moving average is $149.91 and its 200-day moving average is $145.65. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.15. 3M had a net margin of 16.01% and a return on equity of 96.48%. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.09 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The firm's quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts anticipate that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.90%. 3M's dividend payout ratio is currently 40.61%.

Insider Transactions at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

Institutional Trading of 3M

A number of large investors have recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC lifted its holdings in 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after buying an additional 71 shares in the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of 3M by 0.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate's stock valued at $2,576,000 after purchasing an additional 72 shares in the last quarter. TCV Trust & Wealth Management Inc. raised its holdings in shares of 3M by 1.1% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after purchasing an additional 73 shares in the last quarter. Cahaba Wealth Management Inc. raised its holdings in shares of 3M by 1.4% in the 1st quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock valued at $819,000 after purchasing an additional 75 shares in the last quarter. Finally, Altman Advisors Inc. raised its holdings in shares of 3M by 0.5% in the 1st quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate's stock valued at $2,318,000 after purchasing an additional 76 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

About 3M

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.