3M (NYSE:MMM) Receives $148.87 Consensus PT from Analysts

Shares of 3M (NYSE:MMM) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $148.87.

MMM has been the topic of several analyst reports. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Barclays raised their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now owns 5,153 shares in the company, valued at $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC grew its position in 3M by 1,450.6% in the third quarter. Exchange Traded Concepts LLC now owns 2,419 shares of the conglomerate’s stock valued at $331,000 after acquiring an additional 2,263 shares during the period. Redhawk Wealth Advisors Inc. acquired a new stake in shares of 3M during the third quarter worth approximately $207,000. Procyon Advisors LLC bought a new position in shares of 3M in the third quarter valued at approximately $222,000. Creative Planning boosted its holdings in shares of 3M by 1.0% in the 3rd quarter. Creative Planning now owns 153,238 shares of the conglomerate’s stock worth $20,948,000 after acquiring an additional 1,475 shares in the last quarter. Finally, Swedbank AB grew its position in 3M by 10.3% during the 3rd quarter. Swedbank AB now owns 418,438 shares of the conglomerate’s stock worth $57,200,000 after acquiring an additional 39,206 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

NYSE MMM opened at $148.65 on Thursday. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The business’s fifty day moving average is $138.80 and its two-hundred day moving average is $133.79. The stock has a market capitalization of $80.70 billion, a P/E ratio of 19.69, a P/E/G ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. 3M’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is currently 37.09%.

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.