3M Company (MMM) Receives Consensus Recommendation of “Hold” from Analysts
Shares of 3M Company (NYSE:MMM) have earned an average rating of “Hold” from the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $233.85.
Several equities research analysts have weighed in on MMM shares. ValuEngine downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Citigroup reaffirmed a “buy” rating and issued a $250.00 price target (up from $228.00) on shares of 3M in a research note on Monday, October 9th. Royal Bank Of Canada lifted their price target on shares of 3M from $205.00 to $209.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $237.00 price target (up from $229.00) on shares of 3M in a research note on Wednesday, October 11th.
Shares of 3M (MMM) opened at $238.67 on Thursday. 3M has a 52 week low of $171.97 and a 52 week high of $244.23. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89. The firm has a market cap of $141,909.59, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th will be given a dividend of $0.0118 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Wednesday, November 22nd. 3M’s payout ratio is presently 52.51%.
In other 3M news, Chairman Inge G. Thulin sold 6,823 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.14, for a total value of $1,590,714.22. Following the completion of the sale, the chairman now directly owns 196,906 shares of the company’s stock, valued at approximately $45,906,664.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Khandpur K. Ashish sold 4,004 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total transaction of $926,485.56. Following the completion of the sale, the vice president now directly owns 5,236 shares of the company’s stock, valued at $1,211,558.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,804 shares of company stock valued at $5,303,706. 0.58% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Baker Ellis Asset Management LLC grew its position in 3M by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 5,487 shares of the conglomerate’s stock worth $1,142,000 after purchasing an additional 19 shares in the last quarter. Kopp Investment Advisors LLC boosted its stake in 3M by 0.4% in the second quarter. Kopp Investment Advisors LLC now owns 5,281 shares of the conglomerate’s stock valued at $1,099,000 after acquiring an additional 20 shares during the last quarter. Main Street Research LLC boosted 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 last quarter. Smith Moore & CO. boosted its stake in 3M by 0.3% in the first quarter. Smith Moore & CO. now owns 7,436 shares of the conglomerate’s stock valued at $1,423,000 after acquiring an additional 25 shares during the last quarter. Finally, Northstar Wealth Partners LLC boosted its stake in 3M by 0.4% in the second quarter. Northstar Wealth Partners LLC now owns 6,840 shares of the conglomerate’s stock valued at $1,439,000 after acquiring an additional 30 shares during the last quarter. 66.33% of the stock is owned by institutional investors and hedge funds.
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3M Company Profile
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.
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