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

3M (NYSE:MMM)’s share price was down 0.1% during trading on Thursday . The stock traded as low as $128.30 and last traded at $129.04. Approximately 443,263 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 5,272,393 shares. The stock had previously closed at $129.23.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. Barclays upped their target price on 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Wells Fargo & Company raised their price target on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. Finally, Vertical Research raised shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the company from $92.00 to $140.00 in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.57.

3M Trading Up 1.5 %

The company has a fifty day simple moving average of $112.44 and a two-hundred day simple moving average of $102.27. The company has a market capitalization of $72.24 billion, a P/E ratio of -10.26, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08.

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. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period last year, the business earned $2.17 EPS. On average, analysts forecast that 3M will post 7.21 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

Insider Activity at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of 3M

A number of hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers grew its position in 3M by 10.7% during the second quarter. Cetera Investment Advisers now owns 183,925 shares of the conglomerate’s stock worth $18,795,000 after buying an additional 17,793 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of 3M by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 14,487 shares of the conglomerate’s stock worth $1,480,000 after purchasing an additional 143 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in shares of 3M during the 2nd quarter worth approximately $552,000. Regal Investment Advisors LLC increased its position in shares of 3M by 5.8% during the second quarter. Regal Investment Advisors LLC now owns 37,048 shares of the conglomerate’s stock valued at $3,786,000 after purchasing an additional 2,032 shares during the period. Finally, Quarry LP raised its stake in shares of 3M by 68.7% in the second quarter. Quarry LP now owns 12,673 shares of the conglomerate’s stock valued at $1,295,000 after purchasing an additional 5,162 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

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.