3M (NYSE:MMM) Shares Up 1.7%

Shares of 3M (NYSE:MMM) rose 1.7% during mid-day trading on Wednesday . The company traded as high as $104.64 and last traded at $104.41. Approximately 855,026 shares traded hands during trading, a decline of 83% from the average daily volume of 5,067,411 shares. The stock had previously closed at $102.63.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MMM shares. StockNews.com assumed coverage on 3M in a research report on Wednesday. They issued a “buy” rating for the company. Mizuho reissued a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday. Citigroup dropped their price target on 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. 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 research note on Wednesday, January 24th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $84.00 price target on shares of 3M in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.60.

3M Stock Up 1.4 %

The company has a market capitalization of $58.61 billion, a PE ratio of -8.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.00. The business’s 50-day simple moving average is $96.86 and its 200-day simple moving average is $97.78. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 earnings per share. As a group, equities research analysts anticipate that 3M will post 9.77 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is currently -47.82%.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction that occurred 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 directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of 3M

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fragasso Group Inc. lifted its position in shares of 3M by 3.8% in the third quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after acquiring an additional 93 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in 3M by 1.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 7,941 shares of the conglomerate’s stock valued at $1,182,000 after purchasing an additional 98 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in 3M by 13.3% in the 4th quarter. McIlrath & Eck LLC now owns 836 shares of the conglomerate’s stock valued at $100,000 after purchasing an additional 98 shares in the last quarter. Vestcor Inc boosted its stake in 3M by 0.8% during the 4th quarter. Vestcor Inc now owns 13,133 shares of the conglomerate’s stock worth $1,575,000 after purchasing an additional 102 shares during the last quarter. Finally, Bollard Group LLC raised its position in shares of 3M by 2.0% in the second quarter. Bollard Group LLC now owns 5,191 shares of the conglomerate’s stock valued at $520,000 after buying an additional 103 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 operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.