3M (NYSE:MMM) Trading 0.3% Higher

Shares of 3M (NYSE:MMM - Get Free Report) shot up 0.3% during trading on Tuesday . The company traded as high as $97.18 and last traded at $96.84. 827,788 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 5,829,250 shares. The stock had previously closed at $96.59.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. raised 3M from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. Wells Fargo & Company cut 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 lifted their target price on 3M from $78.00 to $87.00 and gave the stock an "underperform" rating in a report on Wednesday, May 1st. Finally, StockNews.com raised shares of 3M from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $103.70.

3M Price Performance

The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The company has a 50-day moving average of $96.30 and a 200-day moving average of $97.84. The stock has a market cap of $52.87 billion, a price-to-earnings ratio of -7.51, a PEG ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the previous year, the business earned $1.97 earnings per share. As a group, equities research analysts predict that 3M will post 7.23 earnings per share for the current year.

Insider Buying and Selling

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 of the company's stock, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MMM. Tributary Capital Management LLC bought a new stake in shares of 3M during the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of 3M by 419.1% during the 1st 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 acquired a new position in 3M in the first quarter worth about $32,000. Livelsberger Financial Advisory bought a new position in shares of 3M during the 4th quarter worth approximately $35,000. Finally, CGC Financial Services LLC boosted its position in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate's stock valued at $37,000 after buying an additional 160 shares during 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.