3M (NYSE:MMM) Shares Down 1.1%

3M (NYSE:MMM - Get Free Report) fell 1.1% on Thursday . The company traded as low as $90.65 and last traded at $90.97. 736,467 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 5,715,418 shares. The stock had previously closed at $92.02.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MMM. Royal Bank of Canada dropped their price target on shares of 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a research note on Tuesday, April 2nd. Citigroup boosted their price target on shares of 3M from $95.31 to $98.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Barclays dropped their price target on shares of 3M from $126.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, April 2nd. Mizuho reissued a "neutral" rating and set a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of 3M from $118.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 3M currently has a consensus rating of "Hold" and an average target price of $104.00.

3M Price Performance

The company's fifty day moving average price is $95.72 and its two-hundred day moving average price is $97.39. 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 company has a market cap of $50.59 billion, a price-to-earnings ratio of -7.20, a PEG ratio of 1.84 and a beta of 1.02.

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, topping analysts' consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 earnings per share. On average, equities research analysts forecast that 3M will post 7.87 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M's previous quarterly dividend of $1.50. 3M's payout ratio is currently -47.82%.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company's stock in a transaction 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 sale, the insider now directly owns 3,966 shares of the company's stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Trading of 3M

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tributary Capital Management LLC bought a new position in shares of 3M in the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 197 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of 3M in the first quarter valued at about $32,000. Briaud Financial Planning Inc bought a new position in shares of 3M in the third quarter valued at about $35,000. Finally, Livelsberger Financial Advisory bought a new position in shares of 3M in the fourth quarter valued at about $35,000. 65.25% of the stock is owned by institutional investors.

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.

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