3M (NYSE:MMM) Trading 0.3% Higher – Time to Buy?

3M (NYSE:MMM) rose 0.3% on Tuesday . The stock traded as high as $153.83 and last traded at $153.67. Approximately 547,161 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,027,325 shares. The stock had previously closed at $153.15.

Analyst Ratings Changes

A number of research firms recently issued reports on MMM. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Saturday. Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and an average target price of $149.13.

3M Stock Up 0.1 %

The firm has a 50-day simple moving average of $148.72 and a two-hundred day simple moving average of $137.71. The stock has a market cap of $83.19 billion, a P/E ratio of 20.27, a PEG ratio of 3.30 and a beta of 0.97. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

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

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is 38.68%.

Insider Buying and Selling

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,639 shares of company stock worth $17,163,446. Company insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Several large investors have recently bought and sold shares of MMM. Financial Life Planners acquired a new stake in shares of 3M in the 4th quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M during the fourth quarter worth $26,000. REAP Financial Group LLC increased its holdings in shares of 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after buying an additional 94 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of 3M during the third quarter worth $27,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the 4th quarter valued at $27,000. 65.25% of the stock is owned by institutional investors and hedge funds.

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.