3M (NYSE:MMM) Given Consensus Rating of “Hold” by Analysts

3M (NYSE:MMM) has been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $104.00.

A number of equities analysts have weighed in on MMM shares. JPMorgan Chase & Co. decreased their price target on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday. Bank of America reduced their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. Citigroup lifted their target price on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays reduced their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, Mizuho restated a “neutral” rating and set a $105.00 target price on shares of 3M in a report on Wednesday, March 27th.

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 3M

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tributary Capital Management LLC bought a new stake in shares of 3M during the 1st quarter valued at about $25,000. Financial Freedom LLC bought a new stake in shares of 3M during the 4th quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of 3M during the 1st quarter valued at about $32,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of 3M during the 3rd quarter valued at about $35,000. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.6 %

Shares of MMM opened at $91.48 on Friday. The firm has a market cap of $50.62 billion, a PE ratio of -7.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company’s fifty day moving average is $95.77 and its two-hundred day moving average is $97.22. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The company had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. 3M’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $2.28 EPS. Analysts forecast that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 6.60%. 3M’s payout ratio is -47.82%.

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.