Shares of 3M Co. (NYSE:MMM) gapped up prior to trading on Thursday . The stock had previously closed at $178.79, but opened at $178.82. 3M shares last traded at $180.89, with a volume of 764,935 shares changing hands.

Several analysts have issued reports on the stock. Jefferies Group reaffirmed a “buy” rating on shares of 3M in a report on Wednesday, July 6th. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Citigroup Inc. reissued a “buy” rating and issued a $191.00 price objective (up previously from $168.00) on shares of 3M in a research report on Tuesday, April 19th. Morgan Stanley reissued a “sell” rating on shares of 3M in a research report on Friday, June 10th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of 3M in a research report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus price target of $163.32.

The stock has a 50 day moving average of $177.55 and a 200-day moving average of $167.26. The firm has a market capitalization of $108.96 billion and a P/E ratio of 23.01.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.07 by $0.01. The firm earned $7.70 billion during the quarter, compared to analyst estimates of $7.73 billion. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 earnings per share. Analysts predict that 3M Co. will post $8.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, August 17th.

In other 3M news, insider Paul A. Keel sold 3,180 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $178.39, for a total value of $567,280.20. Following the completion of the transaction, the insider now directly owns 9,961 shares in the company, valued at $1,776,942.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Khandpur K. Ashish sold 1,679 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $178.39, for a total transaction of $299,516.81. Following the completion of the transaction, the vice president now owns 1,011 shares of the company’s stock, valued at $180,352.29. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of 3M by 1.4% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 8,461 shares of the company’s stock valued at $1,275,000 after buying an additional 115 shares during the last quarter. Regal Investment Advisors LLC boosted its position in shares of 3M by 105.8% in the fourth quarter. Regal Investment Advisors LLC now owns 8,730 shares of the company’s stock valued at $1,315,000 after buying an additional 4,487 shares during the last quarter. SFE Investment Counsel boosted its position in shares of 3M by 6.6% in the fourth quarter. SFE Investment Counsel now owns 9,120 shares of the company’s stock valued at $1,374,000 after buying an additional 565 shares during the last quarter. Pitcairn Co. boosted its position in shares of 3M by 1.7% in the fourth quarter. Pitcairn Co. now owns 9,921 shares of the company’s stock valued at $1,494,000 after buying an additional 169 shares during the last quarter. Finally, Hamilton Point Investment Advisors LLC boosted its position in shares of 3M by 9.7% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 10,166 shares of the company’s stock valued at $1,531,000 after buying an additional 898 shares during the last quarter.

3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.

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