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

3M (NYSE:MMM - Get Free Report)'s stock had its "hold (c+)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Thursday,Weiss Ratings reports.

Several other research firms also recently weighed in on MMM. Royal Bank of Canada raised their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday. Citigroup lowered their target price on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays boosted their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, 3M has a consensus rating of "Moderate Buy" and an average target price of $147.00.

3M Stock Up 2.1 %

MMM opened at $138.88 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $90.65 and a twelve month high of $156.35. The company has a market cap of $74.90 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a 50-day moving average price of $143.38 and a 200 day moving average price of $138.19.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. Sell-side analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the sale, the executive vice president now directly owns 4,902 shares in the company, valued at $734,564.70. This represents a 57.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,736 shares of company stock valued at $9,081,260. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMM. Financial Life Planners acquired a new stake in 3M in the fourth quarter valued at $25,000. REAP Financial Group LLC raised its position in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after acquiring an additional 94 shares in the last quarter. Curat Global LLC purchased a new stake in 3M during the first quarter worth approximately $29,000. Hazlett Burt & Watson Inc. acquired a new position in 3M in the fourth quarter valued at approximately $27,000. Finally, Pinney & Scofield Inc. acquired a new position in 3M in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 65.25% of the company's stock.

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.

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