3M (NYSE:MMM) Shares Up 0.4%

3M (NYSE:MMM)’s share price traded up 0.4% on Thursday . The company traded as high as $132.43 and last traded at $132.17. 701,689 shares were traded during trading, a decline of 87% from the average session volume of 5,205,831 shares. The stock had previously closed at $131.61.

Analyst Ratings Changes

Several research analysts recently weighed in on MMM shares. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Wells Fargo & Company lifted their price target on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. HSBC raised shares of 3M from a “hold” rating to a “buy” rating and raised their target price for the stock from $91.13 to $115.00 in a report on Friday, May 10th. UBS Group lifted their price target on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.57.

3M Stock Performance

The firm has a market capitalization of $73.31 billion, a P/E ratio of -10.44, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95. The company’s 50 day moving average is $113.67 and its 200-day moving average is $102.93. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter last year, the company posted $2.17 earnings per share. As a group, equities analysts anticipate that 3M will post 7.21 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 26th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Monday, August 26th. 3M’s dividend payout ratio (DPR) is -22.01%.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at $21,486,484.56. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On 3M

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silver Oak Securities Incorporated lifted its holdings in shares of 3M by 7.0% during the fourth quarter. Silver Oak Securities Incorporated now owns 2,673 shares of the conglomerate’s stock worth $292,000 after purchasing an additional 174 shares during the period. Gilbert & Cook Inc. purchased a new position in 3M during the fourth quarter valued at approximately $481,000. Certuity LLC purchased a new position in 3M during the fourth quarter valued at approximately $247,000. Brighton Jones LLC raised its position in 3M by 5.8% during the fourth quarter. Brighton Jones LLC now owns 9,502 shares of the conglomerate’s stock valued at $1,039,000 after acquiring an additional 522 shares in the last quarter. Finally, Savant Capital LLC raised its position in 3M by 3.2% during the fourth quarter. Savant Capital LLC now owns 20,441 shares of the conglomerate’s stock valued at $2,235,000 after acquiring an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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.