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

3M (NYSE:MMM) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $139.27.

Several research analysts recently weighed in on MMM shares. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price target on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Citigroup upped their price objective on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada lifted their target price on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 23rd.

3M Stock Performance

Shares of MMM opened at $133.00 on Tuesday. The firm has a market capitalization of $72.43 billion, a P/E ratio of 16.79, a P/E/G ratio of 2.22 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The stock has a 50 day moving average price of $132.82 and a two-hundred day moving average price of $116.84. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last announced its quarterly 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. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. 3M’s revenue was down 24.3% compared to the same quarter last year. Equities analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Mutual Advisors LLC grew its position in 3M by 33.4% during the first quarter. Mutual Advisors LLC now owns 16,461 shares of the conglomerate’s stock valued at $1,746,000 after acquiring an additional 4,122 shares during the last quarter. GSA Capital Partners LLP bought a new stake in 3M in the first quarter worth $937,000. Mediolanum International Funds Ltd purchased a new stake in 3M during the first quarter valued at about $8,358,000. Geneos Wealth Management Inc. increased its holdings in shares of 3M by 2.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock worth $562,000 after buying an additional 105 shares during the period. Finally, Disciplined Equity Management Inc. grew its position in 3M by 8.0% during the 1st quarter. Disciplined Equity Management Inc. now owns 16,268 shares of the conglomerate’s stock worth $1,726,000 after acquiring an additional 1,210 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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.