3M (NYSE:MMM) Price Target Cut to $166.00 by Analysts at Citigroup

3M (NYSE:MMM) had its price objective cut by Citigroup from $175.00 to $166.00 in a report issued on Monday morning, MarketBeat Ratings reports. They currently have a neutral rating on the conglomerate’s stock.

A number of other brokerages also recently commented on MMM. UBS Group reissued a “buy” rating on shares of 3M in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of 3M from $179.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. Morgan Stanley boosted their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Wolfe Research dropped their price objective on shares of 3M from $205.00 to $186.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings lowered shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $169.09.

3M Stock Up 1.5%

Shares of NYSE MMM opened at $152.50 on Monday. The stock has a market cap of $79.67 billion, a P/E ratio of 25.42, a PEG ratio of 2.18 and a beta of 1.09. The business’s fifty day simple moving average is $156.11 and its 200-day simple moving average is $160.50. 3M has a 12-month low of $124.65 and a 12-month high of $177.41. 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 released its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 EPS for the quarter, topping the consensus estimate of $1.80 by $0.03. 3M had a return on equity of 95.36% and a net margin of 13.03%.The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the firm posted $1.68 EPS. 3M’s revenue for the quarter was up 1.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 13th. This is a positive change from 3M’s previous quarterly dividend of $0.73. This represents a $3.12 annualized dividend and a yield of 2.0%. 3M’s dividend payout ratio (DPR) is presently 52.00%.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the company’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 completion of the transaction, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at $446,558.75. This represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MMM. PeakShares LLC purchased a new position in shares of 3M during the fourth quarter worth about $947,000. Union Savings Bank acquired a new stake in shares of 3M during the fourth quarter worth about $415,000. Bayban purchased a new stake in shares of 3M in the 4th quarter valued at about $1,853,000. DGS Capital Management LLC boosted its position in shares of 3M by 35.5% in the 4th quarter. DGS Capital Management LLC now owns 2,512 shares of the conglomerate’s stock valued at $402,000 after purchasing an additional 658 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of 3M in the 4th quarter valued at about $2,454,000. Institutional investors and hedge funds 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).