3M’s (MMM) “Hold (C)” Rating Reaffirmed at Weiss Ratings

3M (NYSE:MMM)‘s stock had its “hold (c)” rating reissued by equities researchers at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other analysts have also recently commented on MMM. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup raised their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America increased their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Mizuho boosted their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Price Performance

Shares of NYSE MMM opened at $150.13 on Friday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a market cap of $81.76 billion, a PE ratio of 19.89, a P/E/G ratio of 3.37 and a beta of 0.96. 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 business has a 50-day simple moving average of $135.21 and a two-hundred day simple moving average of $131.26.

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

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now owns 5,153 shares in the company, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 in the last 90 days. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Czech National Bank boosted its stake in 3M by 6.1% during the third quarter. Czech National Bank now owns 111,909 shares of the conglomerate’s stock worth $15,298,000 after buying an additional 6,461 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of 3M by 14.8% in the 3rd quarter. Park Avenue Securities LLC now owns 6,187 shares of the conglomerate’s stock worth $846,000 after acquiring an additional 796 shares during the last quarter. Everpar Advisors LLC purchased a new position in shares of 3M during the 3rd quarter worth approximately $251,000. Miracle Mile Advisors LLC acquired a new stake in 3M in the 3rd quarter valued at approximately $218,000. Finally, Fulton Bank N.A. raised its position in 3M by 25.0% in the third quarter. Fulton Bank N.A. now owns 9,440 shares of the conglomerate’s stock valued at $1,290,000 after purchasing an additional 1,890 shares during the period. Institutional investors and hedge funds 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.