3M (NYSE:MMM) Given Average Rating of “Moderate Buy” by Analysts

3M (NYSE:MMM) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $139.27.

A number of brokerages have recently commented on MMM. Morgan Stanley began coverage on shares of 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Bank of America raised their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th.

Insider Activity

In other news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Several large investors have recently bought and sold shares of MMM. Mutual Advisors LLC increased its position in 3M by 33.4% in the first quarter. Mutual Advisors LLC now owns 16,461 shares of the conglomerate’s stock worth $1,746,000 after purchasing an additional 4,122 shares during the last quarter. GSA Capital Partners LLP bought a new position in 3M during the first quarter valued at $937,000. Mediolanum International Funds Ltd bought a new position in 3M during the first quarter valued at $8,358,000. Geneos Wealth Management Inc. increased its position in 3M by 2.0% during the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock valued at $562,000 after acquiring an additional 105 shares during the last quarter. Finally, Disciplined Equity Management Inc. increased its position in 3M by 8.0% during the first quarter. Disciplined Equity Management Inc. now owns 16,268 shares of the conglomerate’s stock valued at $1,726,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Down 1.1 %

NYSE:MMM opened at $125.85 on Tuesday. The firm has a 50-day simple moving average of $132.88 and a two-hundred day simple moving average of $115.73. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The firm has a market cap of $68.53 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the business posted $2.68 earnings per share. The business’s revenue for the quarter was down 24.3% on a year-over-year basis. Analysts predict that 3M will post 7.28 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is currently 35.35%.

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.