3M (NYSE:MMM) Trading Down 0.1%

Shares of 3M (NYSE:MMM - Get Free Report) fell 0.1% during trading on Monday . The company traded as low as $91.85 and last traded at $92.17. 514,438 shares changed hands during trading, a decline of 91% from the average session volume of 5,798,218 shares. The stock had previously closed at $92.27.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MMM shares. JPMorgan Chase & Co. lowered their price objective on 3M from $118.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 17th. Wells Fargo & Company cut their price target on shares of 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 24th. Barclays decreased their price objective on 3M from $126.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, April 2nd. Mizuho reiterated a "neutral" rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Finally, Citigroup raised their price objective on 3M from $95.31 to $98.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, 3M currently has an average rating of "Hold" and a consensus target price of $104.00.

3M Stock Performance

The company has a 50 day moving average price of $95.76 and a 200 day moving average price of $97.36. 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 has a market capitalization of $51.25 billion, a price-to-earnings ratio of -7.31, a P/E/G ratio of 1.63 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last released 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 firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The company's quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts predict that 3M will post 8.79 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders 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 was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 6.52%. 3M's dividend payout ratio (DPR) is -47.82%.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in 3M by 15.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate's stock worth $10,391,000 after buying an additional 14,775 shares during the period. Cornerstone Wealth Group LLC purchased a new stake in 3M during the 3rd quarter worth about $3,855,000. Shoker Investment Counsel Inc. grew its holdings in 3M by 49.7% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate's stock valued at $1,568,000 after buying an additional 5,561 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of 3M by 1.4% in the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate's stock worth $2,021,000 after buying an additional 263 shares in the last quarter. Finally, MWA Asset Management purchased a new position in 3M during the fourth quarter valued at approximately $1,723,000. 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.