3M (NYSE:MMM) Stock Price Up 0.8% – What’s Next?

3M (NYSE:MMM)’s share price was up 0.8% on Wednesday . The company traded as high as $149.04 and last traded at $147.07. Approximately 747,875 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 4,299,119 shares. The stock had previously closed at $145.86.

Analyst Ratings Changes

A number of research analysts recently issued reports on MMM shares. Barclays raised their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, 3M has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Price Performance

The stock has a market cap of $80.49 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 3.30 and a beta of 0.96. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company’s 50-day moving average is $143.53 and its 200-day moving average is $135.87.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the company earned $2.42 EPS. Equities research analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 1.97%. 3M’s payout ratio is 38.68%.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by insiders.

Institutional Trading of 3M

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Life Planners acquired a new stake in shares of 3M in the 4th quarter valued at $25,000. FSA Wealth Management LLC acquired a new stake in 3M in the third quarter worth about $27,000. REAP Financial Group LLC raised its holdings in 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in 3M during the 4th quarter worth about $27,000. Finally, Pinney & Scofield Inc. acquired a new position in 3M during the 4th quarter valued at about $28,000. Institutional investors and hedge funds 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.