3M (NYSE:MMM - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 28,979 call options on the company. This represents an increase of 41% compared to the average volume of 20,561 call options.
3M Stock Up 4.7 %
3M stock traded up $4.35 during mid-day trading on Tuesday, reaching $96.51. 16,669,664 shares of the company were exchanged, compared to its average volume of 5,851,908. The business has a fifty day moving average of $95.82 and a 200 day moving average of $97.54. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The firm has a market cap of $53.40 billion, a P/E ratio of -7.64, a PEG ratio of 1.74 and a beta of 1.02. 3M has a 12-month low of $71.12 and a 12-month high of $97.84.
3M Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M's previous quarterly dividend of $1.50. 3M's dividend payout ratio is currently -47.82%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on MMM shares. JPMorgan Chase & Co. decreased their target price on 3M from $118.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company decreased their target price on 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 24th. Citigroup raised their price target on 3M from $95.31 to $98.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Barclays lowered their price objective on 3M from $126.00 to $107.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 2nd. Finally, Bank of America lowered their price objective on 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $104.00.
Read Our Latest Stock Analysis on 3M
Insider Transactions at 3M
In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.38% of the company's stock.
Institutional Trading of 3M
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Woodward Diversified Capital LLC lifted its holdings in shares of 3M by 4.9% during the 1st quarter. Woodward Diversified Capital LLC now owns 6,081 shares of the conglomerate's stock valued at $645,000 after purchasing an additional 286 shares during the last quarter. Vest Financial LLC increased its position in shares of 3M by 35.1% in the 1st quarter. Vest Financial LLC now owns 410,385 shares of the conglomerate's stock valued at $44,000 after acquiring an additional 106,535 shares during the period. Naples Global Advisors LLC increased its position in shares of 3M by 14.2% in the 1st quarter. Naples Global Advisors LLC now owns 16,063 shares of the conglomerate's stock valued at $1,704,000 after acquiring an additional 2,003 shares during the period. Commonwealth Equity Services LLC increased its position in shares of 3M by 10.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 496,971 shares of the conglomerate's stock valued at $52,714,000 after acquiring an additional 45,789 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of 3M by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 665,212 shares of the conglomerate's stock valued at $70,559,000 after acquiring an additional 4,440 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.
About 3M
(
Get Free Report)
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.
Further Reading
Before you consider 3M, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 3M wasn't on the list.
While 3M currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
