Wells Fargo & Company Issues Pessimistic Forecast for 3M (NYSE:MMM) Stock Price

3M (NYSE:MMM) had its price objective dropped by analysts at Wells Fargo & Company from $175.00 to $160.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.74% from the stock’s current price.

Several other brokerages have also recently weighed in on MMM. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $182.00 price target on shares of 3M in a research report on Friday, January 16th. Mizuho set a $160.00 price objective on 3M in a report on Wednesday, January 21st. Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Barclays upped their price target on 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Wolfe Research increased their price target on shares of 3M from $196.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, 3M has an average rating of “Hold” and an average target price of $172.64.

3M Stock Performance

Shares of MMM stock opened at $144.49 on Wednesday. The firm’s 50 day moving average is $157.37 and its 200 day moving average is $160.78. The stock has a market capitalization of $75.48 billion, a P/E ratio of 24.08, a PEG ratio of 2.11 and a beta of 1.09. 3M has a 12 month low of $121.98 and a 12 month 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.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share 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 business 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. 3M’s revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the completion of the transaction, the chief accounting officer directly owned 2,585 shares in the company, valued at $446,558.75. The trade was 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 through this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Trading of 3M

A number of large investors have recently modified their holdings of the business. Commonwealth Retirement Investments LLC bought a new position in shares of 3M in the fourth quarter worth approximately $28,000. J.Safra Asset Management Corp bought a new stake in 3M during the third quarter valued at approximately $34,000. Westside Investment Management Inc. grew its stake in 3M by 77.4% in the 3rd quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after buying an additional 106 shares in the last quarter. EQ Wealth Advisors LLC purchased a new position in 3M in the 4th quarter worth approximately $40,000. Finally, Sfam LLC bought a new position in shares of 3M in the 4th quarter worth $45,000. Institutional investors own 65.25% of the company’s stock.

3M Company Profile

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).