3M (NYSE:MMM) Trading 0.4% Higher

3M (NYSE:MMM - Get Free Report) was up 0.4% on Thursday . The company traded as high as $93.43 and last traded at $92.99. Approximately 772,404 shares traded hands during trading, a decline of 87% from the average daily volume of 6,046,914 shares. The stock had previously closed at $92.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MMM shares. StockNews.com started coverage on shares of 3M in a research note on Thursday, April 4th. They set a "buy" rating for the company. Mizuho restated a "neutral" rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Wells Fargo & Company reduced their price target on shares of 3M from $112.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reduced their price target on shares of 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a report on Tuesday, April 2nd. Finally, Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, 3M has an average rating of "Hold" and an average price target of $103.50.

3M Price Performance

The stock has a market capitalization of $51.55 billion, a price-to-earnings ratio of -7.36, a PEG ratio of 1.59 and a beta of 1.02. The business's fifty day moving average price is $96.08 and its 200-day moving average price is $97.34. 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 issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion during the quarter, compared to analysts' expectations of $7.69 billion. During the same period last year, the company earned $2.28 earnings per share. The business's revenue was down 1.1% on a year-over-year basis. On average, research analysts forecast that 3M will post 8.97 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. This is a positive change from 3M's previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date was Thursday, February 15th. 3M's dividend payout ratio (DPR) is presently -47.82%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

Institutional Trading of 3M

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in 3M by 0.7% in the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate's stock worth $4,590,533,000 after acquiring an additional 317,483 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 3M by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,080,578 shares of the conglomerate's stock valued at $1,320,649,000 after purchasing an additional 43,732 shares during the period. Geode Capital Management LLC raised its position in shares of 3M by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,474,791 shares of the conglomerate's stock valued at $1,203,635,000 after purchasing an additional 619,370 shares during the period. Morgan Stanley raised its position in shares of 3M by 8.3% in the fourth quarter. Morgan Stanley now owns 10,769,973 shares of the conglomerate's stock valued at $1,291,535,000 after purchasing an additional 825,223 shares during the period. Finally, Northern Trust Corp grew its stake in 3M by 0.6% during the first quarter. Northern Trust Corp now owns 7,413,149 shares of the conglomerate's stock valued at $1,103,670,000 after acquiring an additional 44,714 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

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.