3M (NYSE:MMM) Stock Price Down 1.4% - Time to Sell?

3M (NYSE:MMM - Get Free Report) dropped 1.4% during trading on Tuesday . The company traded as low as $150.76 and last traded at $151.04. Approximately 566,302 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,089,980 shares. The stock had previously closed at $153.21.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MMM. JPMorgan Chase & Co. lifted their price target 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. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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 stock's 50-day moving average is $148.72 and its 200 day moving average is $137.71. The stock has a market cap of $83.25 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 3.30 and a beta of 0.97.

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

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 38.68%.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On 3M

Large investors have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new stake in shares of 3M in the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new stake in 3M in the 3rd quarter valued at approximately $27,000. REAP Financial Group LLC grew its holdings in 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after buying an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new position in 3M during the fourth quarter worth $27,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of 3M in the fourth quarter worth $28,000. 65.25% of the stock is owned by institutional investors and hedge funds.

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.