3M (NYSE:MMM) Trading Up 0.2%

3M (NYSE:MMM - Get Free Report)'s stock price rose 0.2% during trading on Thursday . The company traded as high as $95.67 and last traded at $93.39. Approximately 1,264,437 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 6,197,503 shares. The stock had previously closed at $93.19.

Analyst Ratings Changes

MMM has been the subject of a number of research reports. Barclays decreased their price target on 3M from $126.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday. Bank of America decreased their target price on 3M from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday. Citigroup decreased their target price on 3M from $117.00 to $104.00 and set a "neutral" rating for the company in a research note on Wednesday, January 24th. Mizuho restated a "neutral" rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. Finally, StockNews.com assumed coverage on 3M in a research note on Thursday. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, 3M currently has a consensus rating of "Hold" and an average price target of $104.10.

3M Price Performance

The company has a market cap of $50.10 billion, a P/E ratio of -7.39, a PEG ratio of 1.37 and a beta of 1.02. The company has a fifty day simple moving average of $96.47 and a 200-day simple moving average of $97.59. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.11. The company had revenue of $8.01 billion for the quarter, compared to analysts' expectations of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 earnings per share. On average, sell-side analysts predict that 3M will post 9.37 earnings per share for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.51 per share. This is an increase from 3M's previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend was Thursday, February 15th. 3M's payout ratio is -47.82%.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction 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 filing with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On 3M

Several institutional investors and hedge funds have recently modified their holdings of MMM. Financial Freedom LLC bought a new stake in 3M in the fourth quarter worth $25,000. DHJJ Financial Advisors Ltd. acquired a new position in 3M during the 3rd quarter worth $28,000. Briaud Financial Planning Inc acquired a new position in 3M during the 3rd quarter worth $35,000. Livelsberger Financial Advisory acquired a new position in 3M during the 4th quarter worth $35,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in 3M during the 3rd quarter worth $37,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.