3M (NYSE:MMM) Stock Price Down 1.1%

3M (NYSE:MMM - Get Free Report)'s share price was down 1.1% during trading on Tuesday . The company traded as low as $90.17 and last traded at $90.34. Approximately 681,395 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 5,938,007 shares. The stock had previously closed at $91.30.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MMM shares. Royal Bank of Canada reduced their target price on 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a report on Tuesday, April 2nd. Citigroup lifted their price objective on 3M from $95.31 to $98.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Bank of America cut their price objective on 3M from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 2nd. StockNews.com initiated coverage on 3M in a report on Thursday, April 4th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company cut their price objective on 3M from $112.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $103.50.

3M Stock Down 0.3 %

The company has a 50-day moving average price of $95.92 and a 200 day moving average price of $97.32. The firm has a market capitalization of $50.38 billion, a PE ratio of -7.19, a P/E/G ratio of 1.61 and a beta of 1.02. 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 announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 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 for the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The business's revenue was down 1.1% on a year-over-year basis. Analysts forecast that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a $1.51 dividend. This is an increase from 3M's previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date was Thursday, February 15th. 3M's payout ratio is currently -47.82%.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business's stock in a transaction dated 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 directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On 3M

A number of hedge funds have recently made changes to their positions in the company. MCF Advisors LLC raised its position in 3M by 7.2% during the first quarter. MCF Advisors LLC now owns 5,133 shares of the conglomerate's stock valued at $544,000 after purchasing an additional 346 shares during the period. Toth Financial Advisory Corp raised its position in 3M by 19.5% during the first quarter. Toth Financial Advisory Corp now owns 25,846 shares of the conglomerate's stock valued at $2,741,000 after purchasing an additional 4,219 shares during the period. Tevis Investment Management raised its position in 3M by 16.1% during the first quarter. Tevis Investment Management now owns 11,441 shares of the conglomerate's stock valued at $1,214,000 after purchasing an additional 1,586 shares during the period. Register Financial Advisors LLC purchased a new stake in 3M during the first quarter valued at approximately $488,000. Finally, Fifth Third Wealth Advisors LLC raised its position in 3M by 17.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,243 shares of the conglomerate's stock valued at $450,000 after purchasing an additional 631 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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.