Shares of 3M (NYSE:MMM – Get Free Report) have received an average rating of “Hold” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $127.64.
Several brokerages have recently issued reports on MMM. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, July 30th. Citigroup boosted their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Bank of America boosted their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th.
Check Out Our Latest Stock Analysis on 3M
Insider Transactions at 3M
Institutional Investors Weigh In On 3M
Institutional investors have recently bought and sold shares of the company. Tributary Capital Management LLC bought a new stake in 3M in the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC raised its stake in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.
3M Stock Down 1.1 %
Shares of NYSE:MMM opened at $133.46 on Friday. The firm has a market cap of $73.85 billion, a PE ratio of -10.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a fifty day simple moving average of $131.20 and a 200 day simple moving average of $111.08. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. 3M has a 12-month low of $71.12 and a 12-month high of $140.72.
3M (NYSE:MMM – Get Free Report) last released its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter in the previous year, the company posted $2.17 earnings per share. On average, equities research analysts anticipate that 3M will post 7.22 EPS for the current fiscal year.
3M Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.10%. 3M’s dividend payout ratio (DPR) is presently -22.01%.
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.
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