3M’s (MMM) “Hold (C+)” Rating Reiterated at Weiss Ratings

3M (NYSE:MMMGet Free Report)‘s stock had its “hold (c+)” rating reissued by equities research analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their target price on 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Citigroup raised their price objective on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Barclays raised their price objective on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Royal Bank Of Canada raised their price objective on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Finally, Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average price target of $155.83.

View Our Latest Stock Analysis on 3M

3M Price Performance

MMM stock opened at $152.19 on Friday. The stock has a 50-day moving average price of $144.83 and a two-hundred day moving average price of $142.76. The stock has a market cap of $81.90 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 3.13 and a beta of 1.03. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. 3M has a 1 year low of $98.26 and a 1 year high of $156.35.

3M (NYSE:MMMGet Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. Equities analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president now directly owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president now owns 31,372 shares of the company’s stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in shares of 3M in the fourth quarter valued at approximately $26,000. REAP Financial Group LLC lifted its stake in 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in 3M during the fourth quarter worth $27,000. Pinney & Scofield Inc. bought a new stake in 3M during the fourth quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in 3M during the first quarter worth $28,000. 65.25% of the stock is currently owned by institutional investors.

3M Company Profile

(Get Free Report)

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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Analyst Recommendations for 3M (NYSE:MMM)

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