3M (NYSE:MMM – Get 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
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:MMM – Get 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
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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