3M (NYSE:MMM) Receives Average Recommendation of "Moderate Buy" from Brokerages

3M (NYSE:MMM - Get Free Report) has been given an average recommendation of "Moderate Buy" by the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $148.87.

Several analysts recently issued reports on MMM shares. Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Royal Bank of Canada reissued an "underperform" rating and set a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of 3M in a report on Saturday, February 1st. Bank of America increased their target price on shares of 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd.

Insider Activity at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now owns 5,024 shares of the company's stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On 3M

Several large investors have recently made changes to their positions in MMM. Exchange Traded Concepts LLC boosted its position in shares of 3M by 1,450.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,419 shares of the conglomerate's stock valued at $331,000 after purchasing an additional 2,263 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in 3M during the third quarter valued at about $207,000. Procyon Advisors LLC purchased a new stake in 3M during the third quarter valued at about $222,000. Creative Planning lifted its stake in 3M by 1.0% during the third quarter. Creative Planning now owns 153,238 shares of the conglomerate's stock valued at $20,948,000 after buying an additional 1,475 shares in the last quarter. Finally, Swedbank AB lifted its stake in 3M by 10.3% during the third quarter. Swedbank AB now owns 418,438 shares of the conglomerate's stock valued at $57,200,000 after buying an additional 39,206 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

3M Stock Down 0.0 %

MMM traded down $0.07 during trading on Thursday, hitting $148.65. The company had a trading volume of 2,388,343 shares, compared to its average volume of 4,440,606. The company has a market cap of $80.70 billion, a PE ratio of 19.69, a P/E/G ratio of 3.37 and a beta of 0.96. The business has a 50-day moving average of $138.80 and a 200-day moving average of $133.83. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1-year low of $75.40 and a 1-year high of $155.00.

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

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is currently 37.09%.

About 3M

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.