3M’s (MMM) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of 3M (NYSE:MMM) in a research note released on Friday, Marketbeat.com reports. They currently have a $182.00 target price on the conglomerate’s stock.

MMM has been the topic of several other reports. Barclays boosted their price target on 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft lowered 3M from a “buy” rating to a “hold” rating and decreased their price target for the stock from $199.00 to $178.00 in a research report on Monday, December 8th. Royal Bank Of Canada reissued an “underperform” rating and issued a $131.00 price objective on shares of 3M in a research note on Thursday. 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, Wells Fargo & Company upped their target price on shares of 3M from $176.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $175.80.

3M Stock Performance

Shares of NYSE MMM opened at $168.05 on Friday. The stock has a market capitalization of $89.27 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.40 and a beta of 1.09. The stock’s fifty day simple moving average is $166.11 and its 200 day simple moving average is $159.43. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 2.54. 3M has a 52-week low of $121.98 and a 52-week high of $174.69.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 21st. The conglomerate reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.12. 3M had a return on equity of 98.47% and a net margin of 13.70%.The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the company earned $1.98 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. 3M has set its FY 2025 guidance at 7.950-8.05 EPS. As a group, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, November 14th. 3M’s payout ratio is currently 46.65%.

Insider Activity

In other 3M news, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $169.78, for a total value of $2,347,378.28. Following the sale, the executive vice president owned 6,162 shares in the company, valued at approximately $1,046,184.36. The trade was a 69.17% decrease in their position. The transaction 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 stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total value of $3,174,609.55. Following the transaction, the executive vice president directly owned 6,594 shares of the company’s stock, valued at $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. Insiders sold a total of 46,516 shares of company stock worth $7,836,465 in the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MMM. Brighton Jones LLC increased its stake 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 buying an additional 1,872 shares during the period. Bison Wealth LLC increased its position in shares of 3M by 10.2% during the fourth quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after acquiring an additional 255 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of 3M by 15.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 12,137 shares of the conglomerate’s stock worth $1,848,000 after acquiring an additional 1,652 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of 3M by 0.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 72 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in 3M by 5.1% during the second quarter. GAMMA Investing LLC now owns 16,599 shares of the conglomerate’s stock valued at $2,527,000 after buying an additional 800 shares during the period. Institutional investors own 65.25% of the company’s stock.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).