3M (NYSE:MMM) Trading 0% Higher – Time to Buy?

Shares of 3M (NYSE:MMM) traded up 0% during trading on Thursday . The company traded as high as $153.45 and last traded at $153.27. 474,550 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,055,735 shares. The stock had previously closed at $153.21.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Friday, March 7th. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a research note on Thursday, February 27th. Finally, Citigroup raised their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.13.

3M Stock Performance

The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market cap of $82.66 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. The company’s 50 day moving average price is $147.62 and its 200-day moving average price is $137.26.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 EPS. Equities analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is 38.68%.

Insider Transactions at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last quarter. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On 3M

Hedge funds have recently bought and sold shares of the business. DSG Capital Advisors LLC purchased a new stake in shares of 3M during the 4th quarter valued at about $1,966,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of 3M by 27.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 270,685 shares of the conglomerate’s stock valued at $34,943,000 after acquiring an additional 58,707 shares during the period. NorthCrest Asset Manangement LLC grew its stake in shares of 3M by 5.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,659 shares of the conglomerate’s stock valued at $343,000 after acquiring an additional 146 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of 3M during the 4th quarter valued at approximately $23,558,000. Finally, Aegis Wealth Management LLC bought a new position in shares of 3M during the 4th quarter valued at approximately $1,122,000. Hedge funds and other institutional investors 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.