3M (NYSE:MMM) Price Target Lowered to $160.00 at Wells Fargo & Company

3M (NYSE:MMM) had its target price lowered by Wells Fargo & Company from $175.00 to $160.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the conglomerate’s stock.

Several other research firms have also recently weighed in on MMM. Wolfe Research increased their price objective on 3M from $196.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. UBS Group restated a “buy” rating on shares of 3M in a research note on Friday, March 13th. Royal Bank Of Canada raised their price objective on 3M from $131.00 to $136.00 and gave the stock an “underperform” rating in a research report on Wednesday, January 21st. Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Finally, Morgan Stanley boosted their price objective on 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report 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 MarketBeat.com, 3M has an average rating of “Hold” and a consensus target price of $172.64.

3M Trading Up 0.0%

Shares of MMM stock opened at $145.29 on Wednesday. 3M has a 12 month low of $121.98 and a 12 month high of $177.41. The company has a market cap of $75.90 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.09. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 2.30. The business’s 50 day moving average is $157.69 and its two-hundred day moving average is $160.90.

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

3M Increases Dividend

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

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction 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 sale, the chief accounting officer owned 2,585 shares of the company’s stock, valued at $446,558.75. The trade was a 66.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On 3M

Several institutional investors and hedge funds have recently made changes to their positions in MMM. American Trust grew its holdings in shares of 3M by 3.4% in the 4th quarter. American Trust now owns 1,803 shares of the conglomerate’s stock worth $289,000 after purchasing an additional 60 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV grew its stake in 3M by 1.0% during the third 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 increased its holdings in shares of 3M by 0.8% during the third 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 in the last quarter. MJT & Associates Financial Advisory Group Inc. raised its stake in shares of 3M by 6.0% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate’s stock valued at $195,000 after acquiring an additional 71 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of 3M by 4.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock worth $288,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds 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).