3M (NYSE:MMM) Receives $144.87 Consensus Price Target from Analysts

3M (NYSE:MMM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $144.87.

A number of research analysts have recently issued reports on MMM shares. Royal Bank of Canada boosted their target price on 3M from $99.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, October 23rd. Morgan Stanley assumed coverage on shares of 3M in a research report on Friday, September 6th. They set an "underweight" rating and a $125.00 price objective for the company. UBS Group raised 3M from a "neutral" rating to a "buy" rating and raised their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th.

Institutional Investors Weigh In On 3M

Several hedge funds have recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in 3M during the third quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of 3M during the second quarter worth $28,000. Daymark Wealth Partners LLC grew its position in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. increased its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after buying an additional 269 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM traded up $1.05 during mid-day trading on Friday, reaching $133.53. 1,618,282 shares of the company's stock were exchanged, compared to its average volume of 4,762,183. The business's fifty day simple moving average is $132.39 and its 200-day simple moving average is $120.30. The stock has a market capitalization of $72.71 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M's quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 earnings per share. On average, equities research analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. 3M's dividend payout ratio (DPR) is 35.35%.

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.