Analysts Set 3M (NYSE:MMM) Price Target at $144.87

Shares of 3M (NYSE:MMM) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $144.87.

Several research firms recently issued reports on MMM. Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley began coverage on shares of 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Bank of America raised their price objective on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

3M Trading Down 0.5 %

Shares of MMM opened at $132.89 on Friday. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The stock has a market cap of $72.37 billion, a PE ratio of 16.78, a P/E/G ratio of 2.21 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The business’s 50-day moving average price is $132.39 and its 200-day moving average price is $120.43.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.68 EPS. On average, equities analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s dividend payout ratio is presently 35.35%.

Institutional Trading of 3M

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the period. International Assets Investment Management LLC increased its position in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after acquiring an additional 1,250,491 shares during the period. Electron Capital Partners LLC bought a new position in shares of 3M during the second quarter valued at about $76,732,000. Jennison Associates LLC bought a new stake in shares of 3M in the third quarter worth about $82,208,000. Finally, Bank of New York Mellon Corp increased its holdings in 3M by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after purchasing an additional 533,520 shares during the period. Institutional investors own 65.25% of the company’s stock.

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.