3M Company (NYSE:MMM) Given Average Rating of “Moderate Buy” by Analysts

Shares of 3M Company (NYSE:MMM) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $175.40.

A number of research firms have commented on MMM. Wells Fargo & Company upped their price objective on shares of 3M from $176.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wolfe Research boosted their price target on shares of 3M from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft lowered shares of 3M from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $199.00 to $178.00 in a research note on Monday, December 8th. Citigroup lifted their price objective on shares of 3M from $160.00 to $169.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of 3M in a report on Wednesday, October 8th.

3M Stock Performance

Shares of MMM opened at $161.70 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.84 and a quick ratio of 1.40. The firm’s 50 day moving average is $165.68 and its 200-day moving average is $158.17. 3M has a 12-month low of $121.98 and a 12-month high of $174.69. The stock has a market capitalization of $85.90 billion, a P/E ratio of 25.83, a P/E/G ratio of 2.33 and a beta of 1.09.

3M (NYSE:MMM) last issued its earnings results on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share for the quarter. The firm had revenue of $8.38 billion during the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. Equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.8%. 3M’s dividend payout ratio is 46.65%.

Insider Buying and Selling

In other news, EVP Mark W. Murphy sold 19,061 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the transaction, the executive vice president owned 6,594 shares in the company, valued at approximately $1,098,230.70. This trade represents a 74.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $169.78, for a total value of $2,347,378.28. Following the completion of the sale, the executive vice president directly owned 6,162 shares of the company’s stock, valued at $1,046,184.36. This represents a 69.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 46,516 shares of company stock worth $7,836,465 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in shares of 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after purchasing an additional 61 shares in the last quarter. Private Trust Co. NA lifted its position in 3M by 0.8% in the third quarter. Private Trust Co. NA now owns 9,205 shares of the conglomerate’s stock worth $1,428,000 after purchasing an additional 69 shares during the period. MJT & Associates Financial Advisory Group Inc. boosted its stake in 3M by 6.0% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate’s stock worth $195,000 after buying an additional 71 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in 3M by 0.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 72 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of 3M by 2.6% in the 3rd quarter. Quent Capital LLC now owns 2,845 shares of the conglomerate’s stock valued at $441,000 after buying an additional 73 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).