3M (NYSE:MMM) Shares Up 0.2%

3M (NYSE:MMM) was up 0.2% on Friday . The stock traded as high as $98.19 and last traded at $96.99. Approximately 1,089,363 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 5,860,154 shares. The stock had previously closed at $96.81.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $110.00 to $111.00 in a report on Wednesday. Royal Bank of Canada upped their price target on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research note on Wednesday. Finally, Bank of America cut their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $103.70.

3M Price Performance

The company’s 50-day moving average price is $96.14 and its 200-day moving average price is $97.59. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 0.76. The company has a market cap of $53.76 billion, a P/E ratio of -7.64, a P/E/G ratio of 1.78 and a beta of 1.00.

3M (NYSE:MMM) last issued 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. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The company had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. As a group, sell-side analysts predict that 3M will post 7.26 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a dividend of $1.51 per share. This is a boost 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 annualized dividend and a yield of 6.22%. 3M’s dividend payout ratio is presently -47.48%.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the 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 completion of the transaction, the insider now owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of 3M

A number of large investors have recently added to or reduced their stakes in the company. Disciplined Equity Management Inc. lifted its stake in 3M by 8.0% in the first quarter. Disciplined Equity Management Inc. now owns 16,268 shares of the conglomerate’s stock valued at $1,726,000 after acquiring an additional 1,210 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in 3M by 2.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock valued at $562,000 after acquiring an additional 105 shares during the last quarter. Southern Capital Advisors LLC acquired a new stake in 3M in the first quarter valued at $240,000. Mediolanum International Funds Ltd acquired a new stake in 3M in the first quarter valued at $8,358,000. Finally, Larson Financial Group LLC lifted its stake in 3M by 4.0% in the first quarter. Larson Financial Group LLC now owns 19,407 shares of the conglomerate’s stock valued at $2,059,000 after acquiring an additional 742 shares during the last quarter. Institutional investors and hedge funds 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.