3M (NYSE:MMM) Trading Down 0.3%

3M (NYSE:MMM - Get Free Report) fell 0.3% during trading on Wednesday . The company traded as low as $95.01 and last traded at $95.25. 687,284 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,810,983 shares. The stock had previously closed at $95.54.

Analysts Set New Price Targets

MMM has been the subject of a number of recent analyst reports. Bank of America dropped their price target on shares of 3M from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, April 2nd. Citigroup boosted their target price on 3M from $98.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. UBS Group raised their price target on 3M from $98.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 1st. StockNews.com upgraded 3M from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 25th. Finally, Mizuho restated a "neutral" rating and set a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $103.70.

3M Trading Up 0.8 %

The stock has a market cap of $53.32 billion, a price-to-earnings ratio of -7.54, a P/E/G ratio of 1.79 and a beta of 1.00. The business's 50 day moving average is $96.30 and its 200 day moving average is $97.84. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27.

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

Insider Activity at 3M

In related 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 completion of the sale, the insider now directly owns 3,966 shares of the company's stock, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in 3M by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate's stock valued at $4,590,533,000 after acquiring an additional 317,483 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of 3M by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,080,578 shares of the conglomerate's stock valued at $1,320,649,000 after purchasing an additional 43,732 shares during the period. Norges Bank purchased a new stake in shares of 3M during the fourth quarter worth approximately $502,585,000. Bank of New York Mellon Corp grew its position in 3M by 10.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,531,722 shares of the conglomerate's stock valued at $480,680,000 after buying an additional 435,439 shares during the last quarter. Finally, Invesco Ltd. increased its stake in 3M by 2.4% in the 3rd quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate's stock valued at $382,246,000 after buying an additional 94,864 shares during the period. 65.25% of the stock is owned by hedge funds and other 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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