3M (NYSE:MMM) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of 3M (NYSE:MMM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $144.87.

Several research analysts have recently issued reports on MMM shares. Royal Bank of Canada raised their price objective on 3M from $99.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 23rd. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Bank of America lifted their price objective on shares of 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company raised their target price on shares of 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th.

3M Stock Performance

NYSE:MMM traded up $1.38 during trading hours on Wednesday, hitting $130.36. 803,216 shares of the company were exchanged, compared to its average volume of 4,652,781. 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 has a 52-week low of $75.40 and a 52-week high of $141.34. The stock has a market capitalization of $70.99 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 2.15 and a beta of 0.95. The company's 50 day moving average price is $130.41 and its 200-day moving average price is $123.96.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. The firm 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%. The business's quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.68 earnings per share. As a group, research analysts forecast 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 was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. 3M's dividend payout ratio is currently 35.35%.

Hedge Funds Weigh In On 3M

Large investors have recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new position in shares of 3M in the third quarter valued at approximately $27,000. McClarren Financial Advisors Inc. lifted its holdings in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after purchasing an additional 269 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after buying an additional 296 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of 3M in the third quarter valued at about $57,000. 65.25% of the stock is currently 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.