3M (NYSE:MMM) Price Target Raised to $165.00

3M (NYSE:MMM) had its price target raised by Barclays from $161.00 to $165.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the conglomerate’s stock.

Other equities analysts also recently issued reports about the stock. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Citigroup increased their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. JPMorgan Chase & Co. decreased their price objective on 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Trading Down 0.0 %

NYSE:MMM opened at $149.61 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a 50-day simple moving average of $132.43 and a 200-day simple moving average of $128.82. 3M has a one year low of $75.40 and a one year high of $152.08. The firm has a market cap of $81.47 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last posted its 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. 3M’s revenue was down 25.0% on a year-over-year basis. Equities analysts anticipate that 3M will post 7.66 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. 3M’s payout ratio is currently 37.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners purchased a new position in shares of 3M during the 4th quarter valued at about $25,000. FSA Wealth Management LLC purchased a new position in 3M during the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares during the period. McClarren Financial Advisors Inc. boosted its position in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.