3M (NYSE:MMM) Stock Price Up 0.1%

3M (NYSE:MMM)’s share price rose 0.1% on Monday . The stock traded as high as $105.00 and last traded at $104.12. Approximately 675,080 shares changed hands during trading, a decline of 87% from the average daily volume of 5,320,938 shares. The stock had previously closed at $104.04.

Wall Street Analysts Forecast Growth

MMM has been the subject of several analyst reports. Vertical Research raised shares of 3M from a “hold” rating to a “buy” rating and lifted their price target for the company from $92.00 to $140.00 in a report on Thursday, May 16th. JPMorgan Chase & Co. raised shares of 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 note on Wednesday, May 1st. Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. Wolfe Research raised shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a research note on Thursday, June 13th. Finally, StockNews.com started coverage on shares of 3M in a research note on Thursday, June 6th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $112.17.

3M Price Performance

The company has a market cap of $57.00 billion, a price-to-earnings ratio of -8.19, a PEG ratio of 1.93 and a beta of 0.95. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. The company’s fifty day moving average price is $100.72 and its two-hundred day moving average price is $98.88.

3M (NYSE:MMM) last announced its 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 business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. On average, equities research analysts forecast that 3M will post 7.17 EPS for the current fiscal year.

3M Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.72%. The ex-dividend date was Thursday, May 23rd. 3M’s payout ratio is -22.01%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MMM. Tributary Capital Management LLC bought a new stake in 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its position in 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in 3M during the first quarter worth $32,000. Livelsberger Financial Advisory bought a new stake in 3M during the fourth quarter worth $35,000. Finally, CGC Financial Services LLC raised its position in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

About 3M

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.