3M (NYSE:MMM) Shares Down 1.9% - What's Next?

3M (NYSE:MMM - Get Free Report) shares dropped 1.9% on Friday . The company traded as low as $145.40 and last traded at $145.58. Approximately 551,018 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,980,870 shares. The stock had previously closed at $148.44.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup increased their target price on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Barclays raised their price objective on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Finally, Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $149.13.

3M Price Performance

The company has a market capitalization of $79.59 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.30 and a beta of 0.97. The company's 50 day simple moving average is $149.72 and its 200-day simple moving average is $138.39. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

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3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $2.42 EPS. The firm's quarterly revenue was down 25.0% compared to the same quarter last year. On average, equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This is a positive change from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 38.68%.

Insider Transactions at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated Friday, January 31st. The stock was 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 of the company's stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company's stock.

Institutional Trading of 3M

Institutional investors have recently made changes to their positions in the stock. Wayfinding Financial LLC acquired a new position in shares of 3M in the 4th quarter worth $851,000. Franklin Resources Inc. raised its holdings in 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock worth $114,770,000 after buying an additional 178,450 shares during the period. Meyer Handelman Co. lifted its stake in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock valued at $25,511,000 after buying an additional 2,678 shares in the last quarter. USA Financial Formulas acquired a new position in shares of 3M in the fourth quarter worth about $816,000. Finally, Braun Stacey Associates Inc. increased its position in shares of 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after acquiring an additional 22,203 shares in the last quarter. 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.