3M (NYSE:MMM) Trading 0.2% Higher

3M (NYSE:MMM) rose 0.2% during mid-day trading on Monday . The stock traded as high as $92.59 and last traded at $92.04. Approximately 916,322 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 5,667,077 shares. The stock had previously closed at $91.83.

Analyst Upgrades and Downgrades

MMM has been the topic of several research analyst reports. Citigroup raised their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. JPMorgan Chase & Co. decreased their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, Mizuho reiterated a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.00.

3M Stock Up 0.0 %

The stock has a market capitalization of $50.84 billion, a P/E ratio of -7.29, a P/E/G ratio of 1.74 and a beta of 1.02. The firm’s fifty day moving average is $95.71 and its 200-day moving average is $97.46. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.57%. 3M’s payout ratio is currently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On 3M

Institutional investors have recently modified their holdings of the stock. Tributary Capital Management LLC bought a new stake in shares of 3M during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of 3M during the first quarter worth approximately $32,000. Briaud Financial Planning Inc bought a new stake in shares of 3M during the third quarter worth approximately $35,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of 3M during the fourth quarter worth approximately $35,000. 65.25% of the stock is owned by institutional investors.

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.