Brokerages Set 3M Co (NYSE:MMM) PT at $173.63

Shares of 3M Co (NYSE:MMM) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $173.63.

MMM has been the topic of several research reports. Citigroup dropped their price target on shares of 3M from $180.00 to $176.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank boosted their price target on shares of 3M from $160.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded shares of 3M from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $143.00 to $150.00 in a research report on Monday, December 23rd. Royal Bank of Canada dropped their price target on shares of 3M from $165.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Finally, Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 price target on the stock in a research report on Tuesday, December 10th.

In other 3M news, CEO Michael F. Roman sold 8,906 shares of 3M stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.00, for a total transaction of $1,442,772.00. Following the transaction, the chief executive officer now owns 48,152 shares of the company’s stock, valued at approximately $7,800,624. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Julie L. Bushman sold 6,879 shares of 3M stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $165.09, for a total value of $1,135,654.11. In the last ninety days, insiders have sold 22,035 shares of company stock worth $3,573,239. Company insiders own 0.83% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Private Vista LLC lifted its holdings in 3M by 5.1% in the 3rd quarter. Private Vista LLC now owns 1,227 shares of the conglomerate’s stock worth $202,000 after purchasing an additional 60 shares during the last quarter. Boston Advisors LLC lifted its holdings in 3M by 0.7% in the 3rd quarter. Boston Advisors LLC now owns 9,250 shares of the conglomerate’s stock worth $1,521,000 after purchasing an additional 60 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in 3M by 4.4% in the 4th quarter. Convergence Investment Partners LLC now owns 1,414 shares of the conglomerate’s stock worth $249,000 after purchasing an additional 60 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its holdings in 3M by 0.7% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 8,595 shares of the conglomerate’s stock worth $1,516,000 after purchasing an additional 61 shares during the last quarter. Finally, KLCM Advisors Inc. lifted its holdings in 3M by 3.1% in the 3rd quarter. KLCM Advisors Inc. now owns 2,145 shares of the conglomerate’s stock worth $353,000 after purchasing an additional 64 shares during the last quarter. 66.84% of the stock is currently owned by institutional investors.

Shares of NYSE MMM traded down $0.78 during midday trading on Friday, reaching $158.56. 3,274,479 shares of the company traded hands, compared to its average volume of 3,222,435. 3M has a 52 week low of $150.58 and a 52 week high of $219.75. The stock has a 50-day moving average price of $171.12 and a 200 day moving average price of $167.41. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.41 and a quick ratio of 0.96. The company has a market cap of $91.36 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.76 and a beta of 1.13.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 28th. The conglomerate reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.15). 3M had a net margin of 14.22% and a return on equity of 51.39%. The company had revenue of $8.11 billion for the quarter, compared to the consensus estimate of $8.12 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. 3M’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts expect that 3M will post 9.5 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, February 13th. This is a boost from 3M’s previous quarterly dividend of $1.44. 3M’s payout ratio is 64.62%.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Analyst Recommendations for 3M (NYSE:MMM)

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