3M (NYSE:MMM) Trading 1.1% Higher - What's Next?

3M (NYSE:MMM - Get Free Report)'s share price rose 1.1% during trading on Tuesday . The company traded as high as $148.05 and last traded at $148.52. Approximately 1,202,608 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 4,116,754 shares. The stock had previously closed at $146.86.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MMM shares. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Saturday, March 22nd. Barclays raised 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. Finally, Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $149.13.

3M Trading Down 5.4 %

The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market capitalization of $75.38 billion, a P/E ratio of 18.51, a PEG ratio of 3.30 and a beta of 0.97. The company's fifty day simple moving average is $149.51 and its 200-day simple moving average is $138.57.

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3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M's 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. Research analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is 38.68%.

Insiders Place Their Bets

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company's stock, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company'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 directly 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 ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of 3M

Several large investors have recently bought and sold shares of the stock. Marcum Wealth LLC lifted its stake in shares of 3M by 6.0% during the first quarter. Marcum Wealth LLC now owns 2,321 shares of the conglomerate's stock worth $341,000 after buying an additional 131 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in 3M by 22.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 5,044 shares of the conglomerate's stock worth $741,000 after acquiring an additional 926 shares during the period. Wellington Management Group LLP lifted its position in 3M by 0.4% during the 4th quarter. Wellington Management Group LLP now owns 614,438 shares of the conglomerate's stock worth $79,318,000 after acquiring an additional 2,681 shares during the period. DSG Capital Advisors LLC acquired a new position in shares of 3M in the fourth quarter valued at about $1,966,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of 3M by 27.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 270,685 shares of the conglomerate's stock valued at $34,943,000 after purchasing an additional 58,707 shares during the period. 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.