3M (NYSE:MMM) Price Target Raised to $205.00

3M (NYSE:MMM) had its price target boosted by Wolfe Research from $196.00 to $205.00 in a research report released on Friday,MarketScreener reports. Wolfe Research currently has an outperform rating on the conglomerate’s stock.

A number of other brokerages also recently issued reports on MMM. Mizuho set a $160.00 price target on 3M in a research report on Wednesday, January 21st. Wells Fargo & Company cut their price target on shares of 3M from $183.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Morgan Stanley increased their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective on shares of 3M from $131.00 to $136.00 and gave the stock an “underperform” rating in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $182.00 target price on shares of 3M in a research note on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.18.

3M Stock Performance

3M stock opened at $164.75 on Friday. 3M has a 1-year low of $121.98 and a 1-year high of $177.41. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $86.77 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. The firm’s 50 day simple moving average is $164.01 and its 200 day simple moving average is $161.85.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the business earned $1.68 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 13th will be issued a $0.78 dividend. This is an increase from 3M’s previous quarterly dividend of $0.73. The ex-dividend date is Friday, February 13th. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio (DPR) is 52.00%.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the transaction, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at $446,558.75. This represents a 66.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On 3M

Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Retirement Investments LLC bought a new position in 3M in the fourth quarter valued at about $28,000. J.Safra Asset Management Corp purchased a new stake in shares of 3M during the 3rd quarter valued at about $34,000. Westside Investment Management Inc. increased its position in shares of 3M by 77.4% during the 3rd quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 106 shares during the last quarter. EQ Wealth Advisors LLC bought a new position in shares of 3M in the 4th quarter worth approximately $40,000. Finally, Sfam LLC purchased a new position in shares of 3M in the fourth quarter worth approximately $45,000. 65.25% of the stock is owned by institutional investors.

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).