Weiss Ratings restated their hold (c+) rating on shares of 3M (NYSE:MMM – Free Report) in a research report released on Saturday,Weiss Ratings reports.
MMM has been the topic of a number of other research reports. Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Citigroup cut their target price on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada raised their price target on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Barclays lifted their price objective on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and an average price target of $152.08.
View Our Latest Stock Report on MMM
3M Trading Down 1.3%
3M (NYSE:MMM – Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, sell-side analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.
3M Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.98%. 3M’s dividend payout ratio (DPR) is currently 36.87%.
Insider Activity
In other news, EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wayfinding Financial LLC acquired a new position in 3M in the fourth quarter valued at about $851,000. Ensign Peak Advisors Inc raised its stake in shares of 3M by 29.2% during the fourth quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate’s stock worth $82,921,000 after buying an additional 145,146 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate’s stock valued at $18,408,000 after purchasing an additional 22,203 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in 3M by 1,615.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate’s stock valued at $15,780,000 after purchasing an additional 115,116 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. increased its stake in 3M by 34.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate’s stock valued at $1,616,000 after purchasing an additional 3,173 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.
About 3M
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.
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