Brokerages Set 3M (NYSE:MMM) PT at $144.13

3M (NYSE:MMM - Get Free Report) has been given an average recommendation of "Moderate Buy" by the sixteen ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $144.13.

A number of analysts recently issued reports on the company. Weiss Ratings reissued a "hold (c)" rating on shares of 3M in a report on Saturday. Royal Bank of Canada reduced their price target on shares of 3M from $100.00 to $96.00 and set an "underperform" rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on 3M from $165.00 to $162.00 and set an "overweight" rating for the company in a research note on Wednesday. Bank of America lifted their price target on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd.

3M Stock Performance

Shares of MMM traded up $1.84 during mid-day trading on Friday, hitting $141.02. The stock had a trading volume of 5,717,193 shares, compared to its average volume of 2,528,391. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The firm has a market cap of $76.80 billion, a P/E ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $141.66. The business has a fifty day moving average price of $131.24 and a 200-day moving average price of $127.74.

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

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend payout ratio (DPR) is presently 35.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MMM. American Century Companies Inc. lifted its holdings in 3M by 0.8% in the second quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate's stock worth $8,396,000 after buying an additional 650 shares during the period. Wealth Alliance raised its position in shares of 3M by 18.2% in the 2nd quarter. Wealth Alliance now owns 2,600 shares of the conglomerate's stock worth $266,000 after acquiring an additional 401 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of 3M by 29.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 69,283 shares of the conglomerate's stock valued at $7,080,000 after purchasing an additional 15,939 shares during the period. Blair William & Co. IL boosted its position in shares of 3M by 4.2% during the second quarter. Blair William & Co. IL now owns 85,724 shares of the conglomerate's stock valued at $8,760,000 after purchasing an additional 3,481 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in 3M by 17.6% in the second quarter. Intech Investment Management LLC now owns 34,758 shares of the conglomerate's stock worth $3,552,000 after purchasing an additional 5,205 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

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.