Shares of 3M (NYSE:MMM – Get Free Report) 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.
Check Out Our Latest Analysis on 3M
Insider Buying and Selling at 3M
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 – Get Free Report) 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.
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