3M (MMM) Scheduled to Post Earnings on Tuesday

3M (NYSE:MMM) is set to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect 3M to post earnings of $2.08 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

3M Stock Up 0.5 %

Shares of NYSE MMM opened at $91.83 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a 12 month low of $71.12 and a 12 month high of $95.67. The firm has a market capitalization of $50.82 billion, a PE ratio of -7.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. The firm has a fifty day simple moving average of $95.71 and a two-hundred day simple moving average of $97.46.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date of this dividend 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 dividend yield of 6.58%. 3M’s dividend payout ratio is currently -47.82%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were 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 of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MMM. Bank of America reduced their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Wells Fargo & Company cut their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Finally, Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $104.00.

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.