3M’s (MMM) Hold (C) Rating Reiterated at Weiss Ratings

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

Other research analysts have also issued reports about the company. UBS Group raised 3M from a “neutral” rating to a “buy” rating and raised their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Barclays lifted their target price on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Bank of America lifted their target price on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Citigroup lifted their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Price Performance

Shares of MMM opened at $150.11 on Wednesday. The firm has a market capitalization of $81.49 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 3.29 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 has a one year low of $75.40 and a one year high of $155.00. The stock’s fifty day moving average is $139.94 and its 200-day moving average is $134.31.

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

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. D.A. Davidson & CO. raised its stake in shares of 3M by 16.2% in the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after purchasing an additional 20,421 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares in the last quarter. Meyer Handelman Co. raised its stake in shares of 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after purchasing an additional 2,678 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of 3M by 40.1% in the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares in the last quarter. Finally, FMR LLC raised its stake in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.