3M (NYSE:MMM) Trading Up 1.2%

3M (NYSE:MMM - Get Free Report)'s share price was up 1.2% during trading on Monday . The stock traded as high as $92.89 and last traded at $92.09. Approximately 873,153 shares changed hands during trading, a decline of 86% from the average daily volume of 6,148,302 shares. The stock had previously closed at $91.03.

Analysts Set New Price Targets

Several equities analysts have recently commented on MMM shares. Barclays reduced their target price on 3M from $126.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, April 2nd. Mizuho restated a "neutral" rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. Bank of America reduced their price objective on 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 2nd. Citigroup raised their price objective on 3M from $95.31 to $98.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $103.50.

3M Price Performance

The company has a market capitalization of $50.88 billion, a price-to-earnings ratio of -7.28, a price-to-earnings-growth ratio of 1.58 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The business has a fifty day moving average price of $96.26 and a 200 day moving average price of $97.44.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.11. The company had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. On average, research analysts expect that 3M will post 8.97 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from 3M's previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.57%. 3M's payout ratio is -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On 3M

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in 3M by 15.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate's stock worth $10,391,000 after purchasing an additional 14,775 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of 3M in the third quarter valued at $3,855,000. Shoker Investment Counsel Inc. raised its stake in shares of 3M by 49.7% in the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate's stock valued at $1,568,000 after purchasing an additional 5,561 shares in the last quarter. Diversified Trust Co raised its stake in shares of 3M by 1.4% in the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate's stock valued at $2,021,000 after purchasing an additional 263 shares in the last quarter. Finally, MWA Asset Management acquired a new position in shares of 3M in the fourth quarter valued at $1,723,000. Hedge funds and other institutional investors 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 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.