3M (NYSE:MMM) Shares Down 0.9%

3M (NYSE:MMM) shares were down 0.9% during mid-day trading on Thursday . The stock traded as low as $96.65 and last traded at $97.56. Approximately 1,766,843 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 5,860,234 shares. The stock had previously closed at $98.44.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MMM shares. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company decreased their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada boosted their target price on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $111.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 3M presently has a consensus rating of “Hold” and a consensus price target of $103.70.

3M Stock Down 1.3 %

The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 4.17. The firm has a market capitalization of $53.78 billion, a P/E ratio of -7.67, a P/E/G ratio of 2.13 and a beta of 1.00. The company has a 50 day simple moving average of $95.96 and a two-hundred day simple moving average of $97.55.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same period in the prior year, the company earned $1.97 EPS. On average, equities analysts predict that 3M will post 7.05 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio is currently -47.48%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 in the company, valued at approximately $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tributary Capital Management LLC bought a new stake in shares of 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of 3M in the first quarter valued at about $32,000. Briaud Financial Planning Inc bought a new stake in shares of 3M in the third quarter valued at about $35,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of 3M in the fourth quarter valued at about $35,000. 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.