3M (NYSE:MMM) Stock Price Up 0.2%

Shares of 3M (NYSE:MMM) rose 0.2% on Friday . The company traded as high as $98.19 and last traded at $96.99. Approximately 1,089,363 shares traded hands during trading, a decline of 81% from the average daily volume of 5,860,154 shares. The stock had previously closed at $96.81.

Analysts Set New Price Targets

Several research firms recently issued reports on MMM. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $111.00 in a report on Wednesday. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Wells Fargo & Company lowered their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Barclays dropped their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their price target on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $103.70.

3M Stock Up 0.4 %

The company has a fifty day moving average price of $96.05 and a 200-day moving average price of $97.54. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.76 and a current ratio of 1.64. The firm has a market capitalization of $53.76 billion, a PE ratio of -7.64, a PEG ratio of 2.17 and a beta of 1.00.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating 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 analyst estimates of $7.64 billion. During the same quarter last year, the business earned $1.97 earnings per share. As a group, analysts expect that 3M will post 7.05 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. 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 yield of 6.22%. 3M’s dividend payout ratio is -47.48%.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction 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 sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Several institutional investors have recently added to or reduced their stakes in MMM. Vanguard Group Inc. boosted its holdings in 3M by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock valued at $4,590,533,000 after acquiring an additional 317,483 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 3M by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,080,578 shares of the conglomerate’s stock valued at $1,320,649,000 after purchasing an additional 43,732 shares in the last quarter. Norges Bank purchased a new stake in shares of 3M during the 4th quarter valued at $502,585,000. Bank of New York Mellon Corp increased its holdings in shares of 3M by 10.6% during the first quarter. Bank of New York Mellon Corp now owns 4,531,722 shares of the conglomerate’s stock valued at $480,680,000 after acquiring an additional 435,439 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of 3M by 2.4% in the 3rd quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock valued at $382,246,000 after purchasing an additional 94,864 shares during the last quarter. Institutional investors 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.