3M (NYSE:MMM) PT Raised to $100.00

3M (NYSE:MMM) had its target price upped by analysts at Royal Bank of Canada from $99.00 to $100.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “underperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 20.91% from the company’s current price.

A number of other equities analysts have also commented on MMM. Bank of America raised their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, July 30th. Finally, Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $135.67.

3M Trading Down 1.1 %

Shares of 3M stock opened at $126.44 on Wednesday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The firm has a 50-day moving average of $133.07 and a 200-day moving average of $113.57. 3M has a 52-week low of $72.47 and a 52-week high of $141.34. The stock has a market cap of $69.97 billion, a PE ratio of -9.93, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 3.08% and a return on equity of 112.92%. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. As a group, sell-side analysts forecast that 3M will post 7.24 EPS for the current year.

Insider Activity at 3M

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

Institutional Investors Weigh In On 3M

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tributary Capital Management LLC bought a new stake in 3M in the first quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of 3M in the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares during the last quarter. 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.