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

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

MMM has been the subject of several other research reports. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Barclays boosted their price target on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on shares of 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Citigroup lowered their target price on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average target price of $149.29.

3M Stock Performance

NYSE:MMM opened at $142.25 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a 50-day simple moving average of $141.31 and a two-hundred day simple moving average of $138.61. The firm has a market capitalization of $76.56 billion, a PE ratio of 18.84, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a 52-week low of $96.76 and a 52-week high of $156.35.

3M (NYSE:MMM) last released its earnings results 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. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. Analysts forecast that 3M will post 7.8 EPS for the current year.

Institutional Trading of 3M

Several hedge funds and other institutional investors have recently bought and sold shares of MMM. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after acquiring an additional 67 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock worth $665,000 after purchasing an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC boosted its position in shares of 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock valued at $381,000 after buying an additional 71 shares during the period. Gilbert & Cook Inc. grew its stake in shares of 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after buying an additional 73 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. lifted its stake in shares of 3M by 1.1% during the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate’s stock worth $954,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Company Profile

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.