3M (NYSE:MMM) Shares Down 1% – Time to Sell?

Shares of 3M (NYSE:MMM) dropped 1% during mid-day trading on Friday . The company traded as low as $148.07 and last traded at $149.80. Approximately 1,668,477 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 4,037,035 shares. The stock had previously closed at $151.27.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of recent research reports. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Bank of America boosted their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

3M Trading Down 0.5 %

The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The business’s 50-day simple moving average is $147.96 and its two-hundred day simple moving average is $137.36. The company has a market capitalization of $81.68 billion, a PE ratio of 19.95, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. On average, analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.94%. 3M’s dividend payout ratio (DPR) is presently 38.68%.

Insider Transactions at 3M

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the transaction, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Several institutional investors and hedge funds have recently bought and sold shares of MMM. Thrivent Financial for Lutherans raised its stake in 3M by 5.6% during the third quarter. Thrivent Financial for Lutherans now owns 64,013 shares of the conglomerate’s stock worth $8,751,000 after acquiring an additional 3,404 shares during the period. Pathstone Holdings LLC raised its stake in 3M by 1.4% during the third quarter. Pathstone Holdings LLC now owns 74,143 shares of the conglomerate’s stock worth $10,135,000 after acquiring an additional 1,054 shares during the period. Prospera Financial Services Inc raised its stake in 3M by 11.0% during the third quarter. Prospera Financial Services Inc now owns 11,882 shares of the conglomerate’s stock worth $1,625,000 after acquiring an additional 1,182 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in 3M during the third quarter worth about $3,138,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of 3M in the third quarter valued at approximately $276,000. 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.