3M (NYSE:MMM) Stock Price Down 1%

3M (NYSE:MMM) traded down 1% during mid-day trading on Wednesday . The stock traded as low as $92.00 and last traded at $92.09. 682,597 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,737,894 shares. The stock had previously closed at $93.00.

Analysts Set New Price Targets

Several analysts have issued reports on MMM shares. Mizuho reissued a “neutral” rating and set a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. Royal Bank of Canada dropped their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Bank of America dropped their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Finally, Barclays decreased their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, 3M presently has an average rating of “Hold” and a consensus price target of $104.00.

3M Trading Down 1.1 %

The company has a market cap of $50.92 billion, a price-to-earnings ratio of -7.29, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. The company’s fifty day moving average price is $95.73 and its two-hundred day moving average price is $97.43. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. 3M’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 earnings per share. Research analysts expect that 3M will post 7.87 earnings per share for the current 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 issued a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.56%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is currently -47.82%.

Insider Activity at 3M

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 value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of 3M

A number of institutional investors have recently bought and sold shares of MMM. Fragasso Group Inc. boosted its position in shares of 3M by 3.8% during the third quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock worth $239,000 after purchasing an additional 93 shares in the last quarter. Bangor Savings Bank boosted its position in shares of 3M by 1.0% during the fourth quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock worth $1,147,000 after purchasing an additional 104 shares in the last quarter. Allen Capital Group LLC boosted its position in shares of 3M by 0.5% during the fourth quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock worth $2,288,000 after purchasing an additional 105 shares in the last quarter. Summit Financial Group Inc. boosted its position in shares of 3M by 3.4% during the first quarter. Summit Financial Group Inc. now owns 3,316 shares of the conglomerate’s stock worth $352,000 after purchasing an additional 110 shares in the last quarter. Finally, N.E.W. Advisory Services LLC boosted its position in shares of 3M by 4.0% during the third quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock worth $272,000 after purchasing an additional 111 shares in 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.