3M (NYSE:MMM) Trading 0.2% Higher

3M (NYSE:MMM - Get Free Report) traded up 0.2% on Monday . The stock traded as high as $92.59 and last traded at $92.04. 916,322 shares were traded during mid-day trading, a decline of 84% from the average session volume of 5,667,077 shares. The stock had previously closed at $91.83.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of 3M from $84.00 to $78.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of 3M from $118.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 17th. Bank of America dropped their price target on shares of 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 2nd. Barclays dropped their price target on shares of 3M from $126.00 to $107.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 2nd. Finally, Citigroup raised their price target on shares of 3M from $95.31 to $98.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $104.00.

3M Stock Performance

The company's 50 day simple moving average is $95.73 and its 200 day simple moving average is $97.49. 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 stock has a market cap of $51.00 billion, a PE ratio of -7.30, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.55%. This is a positive change from 3M's previous quarterly dividend of $1.50. 3M's dividend payout ratio (DPR) is presently -47.82%.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 3M

Several large investors have recently modified their holdings of the stock. Fragasso Group Inc. grew its stake in 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate's stock valued at $239,000 after buying an additional 93 shares in the last quarter. Bangor Savings Bank grew its stake in 3M by 1.0% in the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate's stock valued at $1,147,000 after buying an additional 104 shares in the last quarter. Allen Capital Group LLC grew its stake in 3M by 0.5% in the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate's stock valued at $2,288,000 after buying an additional 105 shares in the last quarter. Summit Financial Group Inc. grew its stake in 3M by 3.4% in the 1st quarter. Summit Financial Group Inc. now owns 3,316 shares of the conglomerate's stock valued at $352,000 after buying an additional 110 shares in the last quarter. Finally, N.E.W. Advisory Services LLC grew its stake in 3M by 4.0% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate's stock valued at $272,000 after buying an additional 111 shares in the last quarter. Hedge funds and other 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.