3M (NYSE:MMM) Shares Down 0.1% – Should You Sell?

3M (NYSE:MMM)’s share price was down 0.1% on Thursday . The stock traded as low as $145.86 and last traded at $147.51. Approximately 761,944 shares traded hands during trading, a decline of 82% from the average daily volume of 4,292,672 shares. The stock had previously closed at $147.61.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Wednesday, February 19th. Bank of America boosted their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.13.

3M Trading Down 0.4 %

The business’s 50 day simple moving average is $143.87 and its 200-day simple moving average is $135.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market capitalization of $79.80 billion, a P/E ratio of 19.47, a PEG ratio of 3.30 and a beta of 0.96.

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

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 14th. 3M’s payout ratio is presently 38.68%.

Insider Activity

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s 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 sale, the insider now owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last ninety days. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On 3M

Several institutional investors and hedge funds have recently modified their holdings of the business. Wood Tarver Financial Group LLC acquired a new position in shares of 3M in the fourth quarter valued at approximately $64,000. Total Wealth Planning & Management Inc. acquired a new position in 3M in the 4th quarter worth $1,741,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in 3M during the 4th quarter worth about $51,289,000. REAP Financial Group LLC raised its stake in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 94 shares during the period. Finally, Chelsea Counsel Co. bought a new stake in shares of 3M in the fourth quarter valued at about $2,426,000. 65.25% of the stock is currently 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.