3M (NYSE:MMM) Stock Price Down 0%

3M (NYSE:MMM) traded down 0% during mid-day trading on Monday . The company traded as low as $96.89 and last traded at $97.12. 853,977 shares changed hands during trading, a decline of 85% from the average session volume of 5,846,864 shares. The stock had previously closed at $97.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MMM shares. Bank of America cut their target price on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Mizuho restated a “neutral” rating and issued a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $111.00 in a report on Wednesday, May 1st. Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, Citigroup increased their price objective on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $103.70.

3M Price Performance

The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. The company has a 50 day moving average price of $96.30 and a 200 day moving average price of $97.84. The firm has a market cap of $53.32 billion, a PE ratio of -7.57, a PEG ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The company had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the prior year, the firm earned $1.97 EPS. Sell-side analysts expect that 3M will post 7.23 EPS for the current fiscal year.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On 3M

A number of institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in 3M by 15.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock valued at $10,391,000 after purchasing an additional 14,775 shares during the last quarter. Shoker Investment Counsel Inc. increased its holdings in 3M by 49.7% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock valued at $1,568,000 after acquiring an additional 5,561 shares in the last quarter. MWA Asset Management acquired a new position in 3M during the fourth quarter worth about $1,723,000. Diversified Trust Co lifted its holdings in shares of 3M by 1.4% in the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock valued at $2,021,000 after purchasing an additional 263 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of 3M in the third quarter valued at approximately $11,908,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

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.