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

Shares of 3M (NYSE:MMM) 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.

Insider Transactions at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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) 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.