3M (NYSE:MMM) Receives Hold (C+) Rating from Weiss Ratings

Weiss Ratings reiterated their hold (c+) rating on shares of 3M (NYSE:MMM - Free Report) in a report released on Saturday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on MMM. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Barclays upped their price target on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Citigroup lifted their price target on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.13.

3M Stock Up 0.1 %

Shares of NYSE:MMM traded up $0.12 during trading on Friday, reaching $153.27. 2,103,245 shares of the company traded hands, compared to its average volume of 4,027,325. 3M has a 1-year low of $85.62 and a 1-year high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market cap of $83.21 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. The firm has a fifty day simple moving average of $148.72 and a 200 day simple moving average of $137.71.

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3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business's revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 EPS. Analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 in the last quarter. Insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MMM. Financial Life Planners bought a new stake in 3M in the 4th quarter valued at $25,000. FSA Wealth Management LLC bought a new position in 3M during the third quarter worth about $27,000. REAP Financial Group LLC increased its holdings in shares of 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M in the fourth quarter valued at approximately $27,000. Finally, Pinney & Scofield Inc. bought a new position in 3M during the 4th quarter worth $28,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.