Wolfe Research Has Lowered Expectations for 3M (NYSE:MMM) Stock Price

3M (NYSE:MMM) had its target price decreased by equities researchers at Wolfe Research from $205.00 to $186.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the conglomerate’s stock. Wolfe Research’s target price points to a potential upside of 23.64% from the stock’s previous close.

Several other research analysts have also issued reports on MMM. Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Citigroup dropped their target price on 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, January 21st. Jefferies Financial Group dropped their target price on 3M from $180.00 to $160.00 and set a “hold” rating on the stock in a report on Monday, March 30th. UBS Group restated a “buy” rating on shares of 3M in a report on Friday, March 13th. Finally, Royal Bank Of Canada raised their target price on 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $169.91.

3M Stock Up 0.9%

Shares of NYSE:MMM opened at $150.44 on Wednesday. The business’s 50 day simple moving average is $156.18 and its two-hundred day simple moving average is $160.46. The firm has a market cap of $78.59 billion, a P/E ratio of 25.07, a PEG ratio of 2.17 and a beta of 1.09. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. 3M has a 52-week low of $124.65 and a 52-week high of $177.41.

3M (NYSE:MMM) last announced its quarterly 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 analyst estimates of $6.03 billion. 3M had a return on equity of 95.36% and a net margin of 13.03%.The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

Insider Buying and Selling at 3M

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

Institutional Trading of 3M

A number of hedge funds have recently bought and sold shares of MMM. PFA Pension Forsikringsaktieselskab bought a new stake in 3M during the fourth quarter worth $65,009,000. SG Americas Securities LLC lifted its holdings in 3M by 806.1% during the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock worth $50,345,000 after acquiring an additional 279,757 shares during the period. Align Financial LLC bought a new stake in 3M during the fourth quarter worth $4,101,000. Allstate Corp lifted its holdings in 3M by 107.1% during the fourth quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock worth $6,598,000 after acquiring an additional 21,316 shares during the period. Finally, BNP Paribas lifted its holdings in 3M by 219.5% during the fourth quarter. BNP Paribas now owns 25,718 shares of the conglomerate’s stock worth $4,118,000 after acquiring an additional 17,669 shares during the period. 65.25% of the stock is currently owned by institutional investors.

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).