3M (NYSE:MMM) Stock Price Down 0.3%

3M (NYSE:MMM - Get Free Report)'s share price dropped 0.3% during trading on Monday . The company traded as low as $104.63 and last traded at $104.96. Approximately 745,326 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 5,711,590 shares. The stock had previously closed at $105.26.

Analyst Ratings Changes

A number of research firms have weighed in on MMM. Bank of America reduced their target price on 3M from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 2nd. HSBC upgraded 3M from a "hold" rating to a "buy" rating and boosted their target price for the stock from $91.13 to $115.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. upgraded shares of 3M from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $110.00 to $111.00 in a research report on Wednesday, May 1st. Vertical Research upgraded shares of 3M from a "hold" rating to a "buy" rating and raised their price objective for the company from $92.00 to $140.00 in a research report on Thursday. Finally, Mizuho reiterated a "neutral" rating and issued a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $107.55.

3M Stock Down 0.0 %

The stock has a market capitalization of $58.23 billion, a PE ratio of -8.27, a PEG ratio of 1.94 and a beta of 1.00. The company has a 50 day moving average price of $97.60 and a 200-day moving average price of $98.48. 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 issued its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The business had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same period last year, the business posted $1.97 earnings per share. As a group, analysts forecast that 3M will post 7.23 earnings per share for the current fiscal year.

3M Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, May 23rd. 3M's dividend payout ratio (DPR) is presently -47.48%.

Institutional Investors Weigh In On 3M

Institutional investors have recently modified their holdings of the stock. Fragasso Group Inc. lifted its position in shares of 3M by 3.8% during the third quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate's stock worth $239,000 after purchasing an additional 93 shares in the last quarter. Bangor Savings Bank increased its stake in 3M by 1.0% during the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate's stock worth $1,147,000 after buying an additional 104 shares during the period. Platinum Investment Management Ltd. lifted its holdings in 3M by 11.4% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate's stock worth $108,000 after buying an additional 104 shares in the last quarter. Allen Capital Group LLC boosted its position in 3M by 0.5% in the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate's stock valued at $2,288,000 after buying an additional 105 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of 3M by 2.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate's stock worth $562,000 after acquiring an additional 105 shares in the last quarter. 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.