3M (NYSE:MMM) Stock Price Down 4% - Time to Sell?

Shares of 3M (NYSE:MMM - Get Free Report) traded down 4% on Tuesday . The stock traded as low as $147.31 and last traded at $147.33. 2,089,940 shares were traded during mid-day trading, a decline of 51% from the average session volume of 4,304,441 shares. The stock had previously closed at $153.42.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MMM shares. Royal Bank of Canada reiterated an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Barclays increased their price target on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating 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 stock an "overweight" rating in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of 3M in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average target price of $148.87.

3M Stock Up 1.3 %

The stock has a 50 day simple moving average of $143.87 and a 200-day simple moving average of $135.96. The firm has a market cap of $80.21 billion, a PE ratio of 19.57, a PEG ratio of 3.30 and a beta of 0.96. 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 posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping 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 analysts' expectations of $5.77 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The company's revenue was down 25.0% on a year-over-year basis. Sell-side analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.98%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is presently 38.68%.

Insider Buying and Selling

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now owns 4,417 shares of the company's stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now directly owns 5,153 shares of the company's stock, valued at $774,238.25. This represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 over the last 90 days. Company insiders own 0.34% of the company's stock.

Institutional Trading of 3M

Several hedge funds have recently bought and sold shares of MMM. Financial Life Planners purchased a new position in shares of 3M in the fourth quarter valued at about $25,000. FSA Wealth Management LLC purchased a new position in shares of 3M in the third quarter valued at about $27,000. REAP Financial Group LLC lifted its position in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new position in shares of 3M in the fourth quarter valued at about $27,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of 3M in the fourth quarter valued at about $28,000. 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.