3M Company (NYSE:MMM) Receives Consensus Rating of “Moderate Buy” from Analysts

3M Company (NYSE:MMM) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $175.40.

Several research analysts have weighed in on MMM shares. Barclays upped their target price on 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Wells Fargo & Company increased their price objective on 3M from $176.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada lifted their target price on shares of 3M from $120.00 to $130.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Morgan Stanley set a $160.00 target price on shares of 3M and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Finally, UBS Group raised their price target on shares of 3M from $184.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd.

Insider Activity

In other news, EVP Zoe L. Dickson sold 13,826 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the transaction, the executive vice president owned 6,162 shares of the company’s stock, valued at approximately $1,046,184.36. This represents a 69.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark W. Murphy sold 19,061 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total value of $3,174,609.55. Following the completion of the sale, the executive vice president owned 6,594 shares of the company’s stock, valued at approximately $1,098,230.70. This trade represents a 74.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 46,516 shares of company stock valued at $7,836,465. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MMM. Brighton Jones LLC grew its position in shares of 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after purchasing an additional 1,872 shares during the last quarter. Bison Wealth LLC grew its holdings in 3M by 10.2% in the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock valued at $355,000 after buying an additional 255 shares during the last quarter. Townsquare Capital LLC grew its holdings in 3M by 24.4% in the 1st quarter. Townsquare Capital LLC now owns 20,578 shares of the conglomerate’s stock valued at $3,022,000 after buying an additional 4,032 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in 3M in the 1st quarter worth approximately $87,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of 3M during the first quarter worth approximately $2,987,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

MMM stock opened at $164.94 on Wednesday. The firm has a 50 day simple moving average of $163.78 and a 200 day simple moving average of $156.20. 3M has a 52 week low of $121.98 and a 52 week high of $174.69. The stock has a market cap of $87.62 billion, a P/E ratio of 26.35, a P/E/G ratio of 2.52 and a beta of 1.08. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.40 and a current ratio of 1.84.

3M (NYSE:MMM) last released its earnings results on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share (EPS) for the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. The company had revenue of $8.38 billion during the quarter. Research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.8%. 3M’s payout ratio is currently 46.65%.

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.