Weiss Ratings Reiterates “Hold (C)” Rating for 3M (NYSE:MMM)

Weiss Ratings reiterated their hold (c) rating on shares of 3M (NYSE:MMM) in a report released on Saturday morning,Weiss Ratings reports.

MMM has been the subject of a number of other research reports. Citigroup upped their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Barclays upped their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Performance

Shares of MMM stock opened at $150.13 on Friday. The stock has a market cap of $81.76 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The business has a 50-day simple moving average of $135.21 and a 200-day simple moving average of $131.26. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52-week low of $75.40 and a 52-week high of $155.00.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. On average, equities analysts expect that 3M will post 7.8 EPS for the current year.

Insider Activity

In related news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MMM. Pinnacle Financial Partners Inc lifted its stake in 3M by 2.3% during the fourth quarter. Pinnacle Financial Partners Inc now owns 13,157 shares of the conglomerate’s stock worth $1,745,000 after purchasing an additional 300 shares in the last quarter. Winebrenner Capital Management LLC acquired a new position in 3M during the fourth quarter worth $516,000. Deseret Mutual Benefit Administrators lifted its stake in 3M by 5.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,475 shares of the conglomerate’s stock worth $1,223,000 after purchasing an additional 529 shares in the last quarter. Drum Hill Capital LLC acquired a new position in 3M during the fourth quarter worth $217,000. Finally, Paradigm Asset Management Co. LLC acquired a new position in 3M during the fourth quarter worth $749,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Company Profile

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.