3M (NYSE:MMM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of 3M (NYSE:MMM) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $139.27.

Several analysts have commented on the stock. Citigroup increased their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley initiated coverage on shares of 3M in a report on Friday, September 6th. They set an “underweight” rating and a $125.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th.

3M Stock Down 1.1 %

Shares of MMM opened at $125.85 on Tuesday. The firm has a market capitalization of $68.53 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.07 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The firm has a fifty day moving average price of $132.88 and a 200-day moving average price of $115.73.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the firm earned $2.68 earnings per share. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. Equities research analysts expect that 3M will post 7.28 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.22%. 3M’s payout ratio is currently 35.35%.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Trading of 3M

A number of hedge funds and other institutional investors have recently modified their holdings of MMM. Capital World Investors acquired a new stake in shares of 3M during the 1st quarter worth about $165,986,000. International Assets Investment Management LLC increased its position in shares of 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares during the last quarter. National Bank of Canada FI increased its position in shares of 3M by 218.3% during the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after purchasing an additional 1,021,440 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of 3M by 1,015.6% during the 1st quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after purchasing an additional 808,914 shares during the last quarter. Finally, Electron Capital Partners LLC acquired a new stake in shares of 3M during the 2nd quarter worth about $76,732,000. 65.25% of the stock is owned by institutional investors and hedge funds.

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.