3M (NYSE:MMM) Given Average Recommendation of “Moderate Buy” by Brokerages

3M (NYSE:MMMGet Free Report) has received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $149.13.

A number of equities analysts recently weighed in on the company. Citigroup increased their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research note on Thursday, February 27th. Finally, Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd.

Get Our Latest Stock Analysis on MMM

Insider Activity

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction that occurred 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 directly owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.38% of the company’s stock.

Institutional Trading of 3M

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMM. Financial Life Planners acquired a new stake in shares of 3M during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new stake in shares of 3M during the 3rd quarter worth approximately $27,000. REAP Financial Group LLC grew its holdings in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the 4th quarter worth approximately $27,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of 3M during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Up 3.1 %

Shares of MMM stock opened at $150.58 on Monday. The stock has a 50-day simple moving average of $146.42 and a 200 day simple moving average of $136.82. 3M has a fifty-two week low of $85.62 and a fifty-two week high of $156.35. The stock has a market capitalization of $81.75 billion, a P/E ratio of 19.94, a P/E/G ratio of 3.30 and a beta of 0.97. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMMGet Free Report) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating 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 business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the company posted $2.42 EPS. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, sell-side analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.94%. 3M’s dividend payout ratio is currently 38.68%.

About 3M

(Get Free Report

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.

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Analyst Recommendations for 3M (NYSE:MMM)

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