Jefferies Financial Group Cuts 3M (NYSE:MMM) Price Target to $160.00

3M (NYSE:MMM) had its price objective reduced by Jefferies Financial Group from $180.00 to $160.00 in a research note published on Monday,MarketScreener reports. They currently have a hold rating on the conglomerate’s stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings cut 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Barclays reduced their price objective on 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group reiterated a “buy” rating on shares of 3M in a report on Friday, March 13th. Citigroup dropped their target price on 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Finally, Morgan Stanley boosted their target price on 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $172.64.

3M Price Performance

NYSE MMM opened at $145.29 on Monday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The stock has a market cap of $75.90 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.11 and a beta of 1.09. The business has a 50 day simple moving average of $157.69 and a 200 day simple moving average of $160.90. 3M has a 52-week low of $121.98 and a 52-week high of $177.41.

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

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from 3M’s previous quarterly dividend of $0.73. 3M’s dividend payout ratio (DPR) is currently 52.00%.

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 dated 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 owned 2,585 shares in the company, valued at $446,558.75. This trade represents a 66.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. American Trust increased its holdings in shares of 3M by 3.4% in the fourth quarter. American Trust now owns 1,803 shares of the conglomerate’s stock valued at $289,000 after purchasing an additional 60 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after buying an additional 61 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of 3M by 0.8% during the 3rd quarter. Private Trust Co. NA now owns 9,205 shares of the conglomerate’s stock worth $1,428,000 after buying an additional 69 shares during the period. MJT & Associates Financial Advisory Group Inc. boosted its holdings in shares of 3M by 6.0% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate’s stock worth $195,000 after buying an additional 71 shares during the period. Finally, Harbor Investment Advisory LLC grew its stake in 3M by 4.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock valued at $288,000 after buying an additional 72 shares during the last quarter. 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).