3M (NYSE:MMM) Shares Down 0.3%

Shares of 3M (NYSE:MMM - Get Free Report) were down 0.3% during trading on Wednesday . The company traded as low as $90.17 and last traded at $91.05. Approximately 3,036,971 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 5,144,722 shares. The stock had previously closed at $91.30.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of 3M from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Citigroup lifted their target price on 3M from $95.31 to $98.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 24th. Mizuho restated a "neutral" rating and issued a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. Finally, Bank of America dropped their target price on shares of 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $104.00.

3M Trading Down 0.1 %

The company's 50-day simple moving average is $95.81 and its 200 day simple moving average is $97.26. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $50.33 billion, a PE ratio of -7.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02.

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 analysts' consensus estimates 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 company had revenue of $8.01 billion during the quarter, compared to analysts' expectations of $7.69 billion. During the same period last year, the business posted $2.28 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that 3M will post 8.79 EPS 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 paid 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 yield of 6.64%. 3M's dividend payout ratio (DPR) is -47.82%.

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company'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 owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On 3M

A number of institutional investors have recently modified their holdings of MMM. Moneta Group Investment Advisors LLC grew its holdings in 3M by 73,903.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,656,588 shares of the conglomerate's stock valued at $798,258,000 after purchasing an additional 6,647,593 shares during the period. Norges Bank acquired a new stake in 3M in the 4th quarter valued at $502,585,000. Pacer Advisors Inc. raised its position in 3M by 1,273.9% during the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate's stock worth $413,637,000 after acquiring an additional 3,508,334 shares during the period. Balyasny Asset Management L.P. raised its position in 3M by 313.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate's stock worth $289,803,000 after acquiring an additional 2,010,319 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in 3M by 1,889.1% during the first quarter. Renaissance Technologies LLC now owns 1,356,600 shares of the conglomerate's stock valued at $201,971,000 after purchasing an additional 1,288,400 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.