3M (NYSE:MMM) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Bank of America reiterated a “buy” rating and issued a $227.00 price objective on shares of 3M in a research report on Thursday, September 14th. Credit Suisse Group reiterated an “outperform” rating and issued a $237.00 price objective (up from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Citigroup upped their target price on shares of 3M from $250.00 to $262.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Goldman Sachs Group upgraded shares of 3M from a “sell” rating to a “neutral” rating and upped their target price for the company from $194.00 to $229.00 in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $231.16.

Shares of 3M (MMM) opened at $241.15 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. 3M has a 12-month low of $171.09 and a 12-month high of $243.63. The firm has a market cap of $143,630.86, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the firm posted $2.15 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities research analysts anticipate that 3M will post 9.08 EPS for the current year.

In related news, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon T. Lindekugel sold 400 shares of 3M stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $230.06, for a total value of $92,024.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,804 shares of company stock valued at $5,303,706 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Affinity Investment Advisors LLC bought a new stake in 3M in the first quarter valued at about $351,000. Intrust Bank NA grew its stake in 3M by 4.6% in the first quarter. Intrust Bank NA now owns 1,748 shares of the conglomerate’s stock valued at $334,000 after acquiring an additional 77 shares during the period. Main Street Research LLC grew its stake in 3M by 1.1% in the first quarter. Main Street Research LLC now owns 1,984 shares of the conglomerate’s stock valued at $380,000 after acquiring an additional 22 shares during the period. Lincoln National Corp grew its stake in 3M by 18.4% in the first quarter. Lincoln National Corp now owns 4,944 shares of the conglomerate’s stock valued at $946,000 after acquiring an additional 767 shares during the period. Finally, Thomaspartners Inc. grew its stake in 3M by 7.7% in the first quarter. Thomaspartners Inc. now owns 997,295 shares of the conglomerate’s stock valued at $190,812,000 after acquiring an additional 71,291 shares during the period. 66.57% of the stock is currently owned by institutional investors.

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About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for 3M (NYSE:MMM)

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