3M (NYSE:MMM) Given "Hold (C+)" Rating at Weiss Ratings

Weiss Ratings reiterated their hold (c+) rating on shares of 3M (NYSE:MMM - Free Report) in a research note issued to investors on Tuesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday. Royal Bank of Canada restated an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, 3M presently has a consensus rating of "Moderate Buy" and an average target price of $147.13.

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3M Trading Up 2.3 %

Shares of MMM stock traded up $3.00 on Tuesday, hitting $135.97. 3,337,605 shares of the stock traded hands, compared to its average volume of 4,133,903. 3M has a twelve month low of $90.17 and a twelve month high of $156.35. The stock has a market capitalization of $73.33 billion, a PE ratio of 18.01, a PEG ratio of 3.30 and a beta of 1.01. The firm's 50-day moving average price is $146.37 and its two-hundred day moving average price is $138.40. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Transactions at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares of the company's stock, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On 3M

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in 3M by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after buying an additional 280,048 shares during the last quarter. Northern Trust Corp grew its position in shares of 3M by 12.6% during the fourth quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock worth $871,738,000 after acquiring an additional 755,155 shares during the last quarter. Capital World Investors increased its holdings in shares of 3M by 25.4% in the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock valued at $794,410,000 after acquiring an additional 1,248,093 shares during the period. Bank of New York Mellon Corp raised its position in 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after purchasing an additional 479,621 shares during the last quarter. Finally, Norges Bank acquired a new stake in 3M during the 4th quarter worth $636,767,000. Hedge funds and other institutional investors 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.