3M (NYSE:MMM) Trading 1% Higher

3M (NYSE:MMM)’s stock price rose 1% on Monday . The stock traded as high as $131.57 and last traded at $131.13. 734,359 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 5,238,850 shares. The stock had previously closed at $129.85.

Wall Street Analyst Weigh In

MMM has been the subject of several analyst reports. Citigroup increased their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Barclays lifted their price target on 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their price objective on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and increased their target price for the company from $110.00 to $111.00 in a report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.57.

3M Stock Up 0.2 %

The company has a market capitalization of $72.83 billion, a price-to-earnings ratio of -10.35, a P/E/G ratio of 2.34 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The firm has a 50 day moving average price of $113.67 and a two-hundred day moving average price of $102.93.

3M (NYSE:MMM) last issued its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm earned $2.17 EPS. As a group, sell-side analysts expect that 3M will post 7.21 earnings per share for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, August 26th. 3M’s payout ratio is currently -22.01%.

Insider Activity

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fortis Capital Advisors LLC increased its stake in 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after buying an additional 84 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of 3M by 0.4% during the second quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock valued at $2,311,000 after acquiring an additional 97 shares during the period. AMG National Trust Bank raised its holdings in 3M by 3.1% during the second quarter. AMG National Trust Bank now owns 3,326 shares of the conglomerate’s stock worth $340,000 after purchasing an additional 100 shares in the last quarter. Platinum Investment Management Ltd. lifted its position in 3M by 11.4% in the first quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate’s stock worth $108,000 after purchasing an additional 104 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in 3M by 2.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock worth $562,000 after purchasing an additional 105 shares during the period. 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.