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

3M (NYSE:MMM) has been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $144.87.

A number of equities analysts recently commented on the stock. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Barclays boosted their target price on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd.

Hedge Funds Weigh In On 3M

A number of large investors have recently bought and sold shares of MMM. FSA Wealth Management LLC purchased a new position in shares of 3M during the 3rd quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in 3M during the second quarter valued at $28,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 8.6% during 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 in the last quarter. McClarren Financial Advisors Inc. grew its position in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in shares of 3M by 689.7% during the second 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 and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.8 %

Shares of MMM opened at $133.53 on Friday. The firm has a market capitalization of $72.71 billion, a P/E ratio of 16.86, a P/E/G ratio of 2.19 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The firm has a fifty day moving average price of $132.39 and a 200-day moving average price of $120.16. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last issued its 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 business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the company posted $2.68 earnings per share. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. Equities research analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, November 15th. 3M’s dividend 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.