3M Co (NYSE:MMM) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for 3M in a report released on Friday. Jefferies Group analyst L. Alexander anticipates that the conglomerate will post earnings per share of $2.42 for the quarter. Jefferies Group currently has a “Buy” rating and a $262.00 price target on the stock. Jefferies Group also issued estimates for 3M’s Q2 2018 earnings at $2.61 EPS.
Several other analysts have also issued reports on the company. Argus reissued a “buy” rating on shares of 3M in a report on Friday, December 22nd. Bank of America boosted their price objective on 3M from $227.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a $237.00 target price (up from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Finally, Goldman Sachs Group reiterated a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $244.70.
3M (NYSE:MMM) last announced its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. The business had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of MMM. APG Asset Management N.V. raised its stake in 3M by 128.1% in the 4th quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock worth $279,776,000 after acquiring an additional 801,639 shares during the last quarter. Capital Research Global Investors purchased a new position in 3M in the 2nd quarter worth $89,237,000. Bank of Montreal Can raised its stake in 3M by 38.9% in the 4th quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock worth $218,981,000 after acquiring an additional 260,349 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in 3M by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock worth $746,391,000 after acquiring an additional 142,799 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in 3M in the 3rd quarter worth $28,564,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.
In other news, insider Jon T. Lindekugel sold 400 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $230.06, for a total transaction of $92,024.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ippocratis Vrohidis sold 1,725 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.34, for a total value of $397,336.50. Following the sale, the chief accounting officer now owns 898 shares of the company’s stock, valued at approximately $206,845.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,129 shares of company stock valued at $1,877,626. Company insiders own 0.58% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio is currently 59.27%.
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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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