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

Shares of 3M Company (NYSE:MMM) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $155.83.

A number of research analysts have issued reports on MMM shares. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Wednesday, June 11th. JPMorgan Chase & Co. upped their price target on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Royal Bank Of Canada upped their price target on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Bank of America upped their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Citigroup upped their price target on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, May 30th.

Insider Buying and Selling

In related news, EVP John Patrick Banovetz sold 7,759 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president now directly owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm’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 transaction, the executive vice president now 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 disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 3M

A number of large investors have recently made changes to their positions in the business. Investors Asset Management of Georgia Inc. GA ADV grew its position 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 buying an additional 67 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of 3M by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after purchasing an additional 70 shares in 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 purchasing an additional 71 shares in the last quarter. TCV Trust & Wealth Management Inc. boosted its position in shares of 3M by 1.1% during the first quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate’s stock valued at $954,000 after purchasing an additional 73 shares in the last quarter. Finally, Cahaba Wealth Management Inc. boosted its position in shares of 3M by 1.4% during the first quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate’s stock valued at $819,000 after purchasing an additional 75 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 2.0%

Shares of 3M stock opened at $142.18 on Wednesday. The stock has a fifty day simple moving average of $142.68 and a 200 day simple moving average of $141.98. 3M has a 12-month low of $98.26 and a 12-month high of $156.35. The company has a market capitalization of $76.52 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 3.01 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 (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. On average, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.05%. 3M’s payout ratio is 36.87%.

About 3M

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.