3M (NYSE:MMM) Trading Up 0.4%

3M (NYSE:MMM - Get Free Report)'s stock price traded up 0.4% during trading on Friday . The company traded as high as $92.15 and last traded at $91.84. 720,532 shares were traded during trading, a decline of 88% from the average session volume of 5,827,142 shares. The stock had previously closed at $91.48.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on 3M from $126.00 to $107.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered their price objective on 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada lowered their price objective on 3M from $84.00 to $78.00 and set an "underperform" rating on the stock in a report on Tuesday, April 2nd. 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 report on Tuesday, April 2nd. Finally, Mizuho reiterated a "neutral" rating and issued a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, 3M presently has a consensus rating of "Hold" and a consensus target price of $104.00.

3M Trading Up 1.0 %

The stock has a market cap of $51.10 billion, a PE ratio of -7.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. 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 company's 50-day moving average price is $95.77 and its 200 day moving average price is $97.22.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 EPS. On average, sell-side analysts forecast that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 6.54%. 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 payout ratio is presently -47.82%.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 3,966 shares of the company's stock, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of 3M

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMM. Tributary Capital Management LLC purchased a new stake in 3M in the first quarter valued at approximately $25,000. Financial Freedom LLC purchased a new stake in shares of 3M during the fourth quarter worth $25,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate's stock worth $26,000 after acquiring an additional 197 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of 3M during the first quarter worth $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of 3M during the third quarter worth $35,000. 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'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.