3M (NYSE:MMM) Shares Up 0.3% - Should You Buy?

3M (NYSE:MMM - Get Free Report)'s stock price was up 0.3% during trading on Tuesday . The company traded as high as $153.83 and last traded at $153.67. Approximately 547,161 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,027,325 shares. The stock had previously closed at $153.15.

Analyst Upgrades and Downgrades

MMM has been the subject of several recent analyst reports. 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 report on Wednesday, January 22nd. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Citigroup increased their price objective on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Barclays increased their price target on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $149.13.

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3M Stock Down 2.5 %

The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The business's fifty day moving average price is $149.60 and its 200 day moving average price is $138.17. The firm has a market capitalization of $78.58 billion, a PE ratio of 19.17, a PEG ratio of 3.30 and a beta of 0.97.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is presently 38.68%.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares in the company, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last quarter. Corporate insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMM. Wellington Management Group LLP raised its holdings in 3M by 0.4% during the fourth quarter. Wellington Management Group LLP now owns 614,438 shares of the conglomerate's stock worth $79,318,000 after purchasing an additional 2,681 shares during the last quarter. DSG Capital Advisors LLC purchased a new stake in shares of 3M in the 4th quarter worth about $1,966,000. Wealth Enhancement Advisory Services LLC grew its stake in 3M by 27.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 270,685 shares of the conglomerate's stock valued at $34,943,000 after acquiring an additional 58,707 shares during the last quarter. NorthCrest Asset Manangement LLC increased its holdings in 3M by 5.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,659 shares of the conglomerate's stock valued at $343,000 after acquiring an additional 146 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in 3M during the fourth quarter worth about $23,558,000. 65.25% of the stock is currently 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.