Wolfe Research Forecasts Strong Price Appreciation for 3M (NYSE:MMM) Stock

3M (NYSE:MMM) had its price target lifted by equities researchers at Wolfe Research from $196.00 to $205.00 in a research report issued on Friday,MarketScreener reports. The brokerage currently has an “outperform” rating on the conglomerate’s stock. Wolfe Research’s price target would indicate a potential upside of 24.43% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Barclays raised their target price on shares of 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Mizuho set a $160.00 price objective on shares of 3M in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $182.00 target price on shares of 3M in a research report on Friday, January 16th. Royal Bank Of Canada raised their price target on 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a research report on Wednesday, January 21st. Finally, Citigroup cut their price objective on 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.18.

3M Stock Performance

Shares of 3M stock opened at $164.75 on Friday. The business’s fifty day simple moving average is $164.01 and its 200 day simple moving average is $161.84. 3M has a 12 month low of $121.98 and a 12 month high of $177.41. The firm has a market capitalization of $86.77 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.03. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.03 billion. 3M had a net margin of 13.03% and a return on equity of 95.36%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 EPS. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, analysts anticipate that 3M will post 7.8 EPS for the current year.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 5,145 shares of 3M stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the sale, the chief accounting officer owned 2,585 shares of the company’s stock, valued at approximately $446,558.75. This trade represents a 66.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 3M

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC bought a new stake in shares of 3M in the 4th quarter worth about $28,000. J.Safra Asset Management Corp purchased a new position in 3M in the third quarter worth about $34,000. Westside Investment Management Inc. increased its stake in 3M by 77.4% during the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after acquiring an additional 106 shares during the last quarter. EQ Wealth Advisors LLC purchased a new stake in 3M during the fourth quarter valued at approximately $40,000. Finally, Sfam LLC bought a new stake in shares of 3M in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Company Profile

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).