3M (NYSE:MMM) Stock Price Up 0.7%

3M (NYSE:MMM - Get Free Report)'s share price was up 0.7% during trading on Monday . The company traded as high as $92.78 and last traded at $91.92. Approximately 1,117,545 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 5,974,752 shares. The stock had previously closed at $91.31.

Wall Street Analyst Weigh In

MMM has been the topic of several research analyst reports. 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. StockNews.com assumed coverage on 3M in a research report on Thursday, April 4th. They issued a "buy" rating on the stock. Citigroup lifted their target price on 3M from $95.31 to $98.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Mizuho reaffirmed a "neutral" rating and issued a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. Finally, Wells Fargo & Company reduced 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, 3M has an average rating of "Hold" and a consensus target price of $103.50.

3M Price Performance

The company has a 50 day simple moving average of $95.95 and a two-hundred day simple moving average of $97.34. The company has a market capitalization of $50.53 billion, a P/E ratio of -7.24, a PEG ratio of 1.61 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM - Get Free Report) last announced its 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. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts predict that 3M will post 8.79 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 issued a $1.51 dividend. This is a positive change from 3M's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.61%. 3M's payout ratio is presently -47.82%.

Insider Activity at 3M

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

Hedge Funds Weigh In On 3M

A number of large investors have recently made changes to their positions in the business. Markel Corp grew its position in 3M by 6.5% during the 1st quarter. Markel Corp now owns 269,750 shares of the conglomerate's stock worth $40,161,000 after purchasing an additional 16,550 shares during the period. Axiom Financial Strategies LLC grew its position in 3M by 5.3% during the 1st quarter. Axiom Financial Strategies LLC now owns 6,513 shares of the conglomerate's stock worth $942,000 after purchasing an additional 326 shares during the period. Dakota Wealth Management acquired a new stake in 3M during the 1st quarter worth about $246,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in 3M by 17.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,532 shares of the conglomerate's stock worth $972,000 after purchasing an additional 977 shares during the period. Finally, Covestor Ltd grew its position in 3M by 73.0% during the 1st quarter. Covestor Ltd now owns 1,275 shares of the conglomerate's stock worth $190,000 after purchasing an additional 538 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Company Profile

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.