3M (NYSE:MMM) Shares Down 0.3%

Shares of 3M (NYSE:MMM) were down 0.3% on Monday . The stock traded as low as $104.63 and last traded at $104.96. Approximately 745,326 shares were traded during trading, a decline of 87% from the average daily volume of 5,711,590 shares. The stock had previously closed at $105.26.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MMM shares. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. HSBC upgraded 3M from a “hold” rating to a “buy” rating and increased their price target for the stock from $91.13 to $115.00 in a research note on Friday, May 10th. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. StockNews.com started coverage on 3M in a report on Tuesday. They set a “buy” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and a consensus target price of $107.55.

3M Price Performance

The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The stock has a market capitalization of $56.16 billion, a P/E ratio of -7.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.00. The firm has a 50-day moving average price of $97.92 and a 200 day moving average price of $98.64.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same period last year, the company earned $1.97 EPS. On average, analysts expect that 3M will post 7.23 EPS for the current year.

3M Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, May 23rd. 3M’s payout ratio is -47.48%.

Institutional Trading of 3M

Large investors have recently modified their holdings of the company. Tributary Capital Management LLC bought a new stake in shares of 3M in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. grew its holdings in 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Northwest Investment Counselors LLC bought a new stake in 3M during the first quarter valued at about $32,000. Briaud Financial Planning Inc bought a new stake in 3M during the third quarter valued at about $35,000. Finally, Livelsberger Financial Advisory bought a new stake in 3M during the fourth quarter valued at about $35,000. 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.