3M (NYSE:MMM) Trading 0.2% Higher

3M (NYSE:MMM) shares were up 0.2% during mid-day trading on Monday . The company traded as high as $92.59 and last traded at $92.04. Approximately 916,322 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 5,667,077 shares. The stock had previously closed at $91.83.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Bank of America dropped their price target on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Mizuho restated a “neutral” rating and issued a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. Citigroup boosted their target price on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada reduced their price target on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, 3M presently has a consensus rating of “Hold” and a consensus target price of $104.00.

3M Stock Performance

The company has a market cap of $50.84 billion, a PE ratio of -7.29, a PEG ratio of 1.74 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. The business has a 50-day moving average of $95.71 and a 200 day moving average of $97.46.

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 given a $1.51 dividend. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.57%. 3M’s dividend payout ratio is presently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

Institutional Trading of 3M

Several institutional investors have recently made changes to their positions in MMM. Tributary Capital Management LLC purchased a new stake in shares of 3M during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. boosted its stake in 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in 3M during the first quarter valued at approximately $32,000. Briaud Financial Planning Inc bought a new position in 3M during the third quarter valued at approximately $35,000. Finally, Livelsberger Financial Advisory bought a new position in 3M during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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.