3M (NYSE:MMM) Shares Up 0.2%

3M (NYSE:MMM) shares rose 0.2% on Friday . The stock traded as high as $92.19 and last traded at $91.58. Approximately 656,894 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 5,679,572 shares. The stock had previously closed at $91.41.

Wall Street Analyst Weigh In

MMM has been the subject of several research reports. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Royal Bank of Canada decreased their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Barclays decreased their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Citigroup increased their target price on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Bank of America decreased their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, 3M presently has an average rating of “Hold” and an average price target of $104.00.

3M Trading Up 0.5 %

The stock’s fifty day simple moving average is $95.71 and its 200-day simple moving average is $97.41. The firm has a market cap of $50.82 billion, a PE ratio of -7.27, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.58%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is currently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tributary Capital Management LLC acquired a new stake in shares of 3M in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. increased its stake in shares of 3M by 419.1% in 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 during the period. Northwest Investment Counselors LLC acquired a new stake in shares of 3M in the first quarter worth $32,000. Livelsberger Financial Advisory acquired a new stake in shares of 3M in the fourth quarter worth $35,000. Finally, CGC Financial Services LLC increased its stake in shares of 3M by 89.9% in 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 during the period. 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.