3M (NYSE:MMM) Receives Average Recommendation of “Hold” from Analysts

Shares of 3M (NYSE:MMM) have earned an average recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $127.64.

A number of research analysts have commented on the company. Barclays upped their price objective on 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their target price on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday. Bank of America upped their target price on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Tuesday, July 30th.

Insider Buying and Selling at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The stock was 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 of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Several large investors have recently added to or reduced their stakes in MMM. Tributary Capital Management LLC acquired a new stake in 3M during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. grew its stake in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 197 shares during the period. MFA Wealth Advisors LLC acquired a new stake in 3M in the second quarter valued at approximately $28,000. Daymark Wealth Partners LLC grew its stake in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 269 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Down 1.1 %

MMM stock opened at $133.46 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $73.85 billion, a PE ratio of -10.49, a PEG ratio of 2.51 and a beta of 0.95. 3M has a 1-year low of $71.12 and a 1-year high of $140.72. The business’s 50 day simple moving average is $131.20 and its 200 day simple moving average is $111.08.

3M (NYSE:MMM) last issued its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm posted $2.17 EPS. As a group, research analysts anticipate that 3M will post 7.22 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.10%. 3M’s dividend payout ratio is presently -22.01%.

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.