3M (NYSE:MMM) Stock Price Down 4% - What's Next?

3M (NYSE:MMM - Get Free Report)'s share price fell 4% during trading on Tuesday . The stock traded as low as $147.31 and last traded at $147.33. 2,089,940 shares changed hands during trading, a decline of 51% from the average session volume of 4,304,441 shares. The stock had previously closed at $153.42.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MMM. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Barclays lifted their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Bank of America lifted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Finally, UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $149.13.

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3M Stock Performance

The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm has a market capitalization of $79.46 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.30 and a beta of 0.97. The firm's fifty day moving average is $144.51 and its 200 day moving average is $136.23.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. On average, analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 38.68%.

Insider Buying and Selling

In other 3M news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares of the company's stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On 3M

A number of institutional investors have recently modified their holdings of MMM. Financial Life Planners bought a new position in shares of 3M in the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M in the fourth quarter valued at approximately $26,000. REAP Financial Group LLC raised its position in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 94 shares during the period. FSA Wealth Management LLC bought a new position in shares of 3M in the third quarter valued at approximately $27,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the fourth quarter valued at approximately $27,000. 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.