3M (NYSE:MMM - Get Free Report) announced its quarterly earnings data on Tuesday. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.05, Briefing.com reports. The firm had revenue of $6.29 billion during the quarter, compared to analysts' expectations of $6.06 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company's revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.68 earnings per share.
3M Trading Down 2.9 %
Shares of 3M stock traded down $3.82 during trading on Wednesday, hitting $127.91. The stock had a trading volume of 8,115,322 shares, compared to its average volume of 4,954,423. The firm's fifty day simple moving average is $133.07 and its 200-day simple moving average is $113.57. The stock has a market cap of $70.78 billion, a PE ratio of -10.06, a PEG ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a 12 month low of $72.47 and a 12 month high of $141.34.
3M Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. 3M's dividend payout ratio (DPR) is presently -22.01%.
Analyst Ratings Changes
A number of analysts have recently issued reports on MMM shares. Barclays increased their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday. Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. StockNews.com lowered shares of 3M from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Citigroup upped their target price on shares of 3M from $100.00 to $133.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Finally, Melius Research upgraded shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 target price for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of "Hold" and an average price target of $135.67.
Check Out Our Latest Stock Report on 3M
Insider Transactions at 3M
In other news, Chairman Michael F. Roman sold 5,675 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Michael F. Roman sold 5,675 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company's stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.
About 3M
(
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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.
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