3M (NYSE:MMM) Receives Average Rating of “Moderate Buy” from Brokerages

3M (NYSE:MMM) has been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $152.08.

Several research analysts have issued reports on MMM shares. Royal Bank of Canada increased their price objective on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 23rd. Barclays increased their price objective on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Finally, Citigroup dropped their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th.

3M Stock Performance

Shares of NYSE MMM opened at $147.78 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The business’s 50 day moving average is $141.69 and its two-hundred day moving average is $140.14. The company has a market cap of $79.53 billion, a P/E ratio of 19.57, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a 12 month low of $96.76 and a 12 month high of $156.35.

3M (NYSE:MMM) last released 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 business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, equities analysts expect that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.98%. 3M’s dividend payout ratio is currently 36.87%.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 3M

Several institutional investors and hedge funds have recently made changes to their positions in MMM. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in 3M by 1.3% in the fourth 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 in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of 3M by 1.4% during the 4th 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 during the period. LaSalle St. Investment Advisors LLC lifted its holdings in shares of 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock worth $381,000 after buying an additional 71 shares in the last quarter. Gilbert & Cook Inc. grew its stake in 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 acquiring an additional 73 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. grew its stake in 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 acquiring an additional 73 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

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.