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

3M (NYSE:MMM)’s stock price was up 0.3% during mid-day trading on Tuesday . The stock traded as high as $97.18 and last traded at $96.84. Approximately 827,788 shares changed hands during trading, a decline of 86% from the average daily volume of 5,829,250 shares. The stock had previously closed at $96.59.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MMM shares. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Mizuho reissued a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Royal Bank of Canada increased their price target on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company cut their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Finally, UBS Group raised their target price on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $103.70.

3M Price Performance

The company has a fifty day simple moving average of $96.24 and a two-hundred day simple moving average of $97.77. The company has a market cap of $52.87 billion, a price-to-earnings ratio of -7.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17.

3M (NYSE:MMM) last issued its quarterly earnings results 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 firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the prior year, the business posted $1.97 earnings per share. On average, equities research analysts anticipate that 3M will post 7.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s 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 sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 3M

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tributary Capital Management LLC acquired a new stake in shares of 3M during the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in 3M in the 1st quarter valued at $32,000. Briaud Financial Planning Inc acquired a new position in shares of 3M in the third quarter valued at approximately $35,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of 3M in the fourth quarter valued at approximately $35,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.