3M (NYSE:MMM) Trading Up 0.1%

3M (NYSE:MMM) was up 0.1% on Tuesday . The company traded as high as $124.11 and last traded at $123.44. Approximately 466,468 shares were traded during trading, a decline of 91% from the average daily volume of 5,367,536 shares. The stock had previously closed at $123.36.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on shares of 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their price objective on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.57.

3M Stock Performance

The stock has a market cap of $69.36 billion, a PE ratio of -9.70, a PEG ratio of 2.34 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The firm has a 50 day moving average of $107.51 and a two-hundred day moving average of $100.31.

3M (NYSE:MMM) last issued its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the business posted $2.17 EPS. Research analysts predict that 3M will post 7.21 EPS for the current fiscal year.

Insider Activity

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

A number of institutional investors have recently modified their holdings of the business. Jade Capital Advisors LLC acquired a new position in shares of 3M during the 4th quarter worth $4,373,000. Scarborough Advisors LLC purchased a new position in 3M in the fourth quarter valued at about $978,000. KMG Fiduciary Partners LLC lifted its position in shares of 3M by 2.2% during the 1st quarter. KMG Fiduciary Partners LLC now owns 14,769 shares of the conglomerate’s stock valued at $1,567,000 after acquiring an additional 311 shares during the period. Norden Group LLC boosted its stake in shares of 3M by 1,381.0% during the 1st quarter. Norden Group LLC now owns 65,341 shares of the conglomerate’s stock worth $6,930,000 after acquiring an additional 60,929 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. grew its holdings in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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.