3M (NYSE:MMM) Trading Up 0.8% - What's Next?

3M (NYSE:MMM - Get Free Report)'s stock price traded up 0.8% during trading on Wednesday . The stock traded as high as $149.04 and last traded at $147.07. 747,875 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,299,119 shares. The stock had previously closed at $145.86.

Analysts Set New Price Targets

MMM has been the topic of several recent analyst reports. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued an "underperform" rating and set a $96.00 target price on shares of 3M in a research note on Thursday, February 27th. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and upped their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of 3M in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, 3M currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.87.

3M Stock Performance

The stock has a market cap of $79.71 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 3.30 and a beta of 0.96. The company has a 50 day simple moving average of $143.87 and a 200-day simple moving average of $135.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

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

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders 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. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.99%. 3M's dividend payout ratio is presently 38.68%.

Insider Buying and Selling at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the firm'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 transaction, the executive vice president now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock worth $17,163,446. Company insiders own 0.34% of the company's stock.

Institutional Trading of 3M

Large investors have recently made changes to their positions in the business. Financial Life Planners purchased a new position in shares of 3M in the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC purchased a new stake in shares of 3M in the 4th quarter valued at $26,000. REAP Financial Group LLC boosted its position in 3M by 88.7% in 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 period. FSA Wealth Management LLC acquired a new stake in 3M in the third quarter valued at approximately $27,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in 3M in the fourth quarter valued at $27,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

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.