Weiss Ratings Reiterates “Hold (C)” Rating for 3M (NYSE:MMM)

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

MMM has been the topic of a number of other research reports. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Wells Fargo & Company increased their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.13.

3M Stock Performance

NYSE:MMM opened at $141.02 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The firm’s fifty day simple moving average is $131.24 and its 200-day simple moving average is $127.74. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. The stock has a market cap of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 EPS. The business’s revenue was down 24.3% on a year-over-year basis. Analysts expect that 3M will post 7.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 3M

Several institutional investors have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new stake in 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC increased its stake in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. raised its holdings in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. ORG Partners LLC boosted its position in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. Finally, True Wealth Design LLC grew its holdings in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

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.