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

Shares of 3M (NYSE:MMM - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $139.27.

A number of research firms recently commented on MMM. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Argus upgraded 3M from a "hold" rating to a "buy" rating and set a $145.00 price target for the company in a research report on Tuesday, July 30th. Melius Research upgraded 3M from a "hold" rating to a "buy" rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Finally, Barclays lifted their target price on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd.

Insider Activity at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by insiders.

Institutional Trading of 3M

Several institutional investors and hedge funds have recently made changes to their positions in the company. MFA Wealth Advisors LLC bought a new stake in shares of 3M in the 2nd quarter valued at about $28,000. Daymark Wealth Partners LLC raised its stake 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 worth $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. lifted its holdings in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after purchasing an additional 121 shares during the period. Meeder Asset Management Inc. boosted its position in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after buying an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in 3M in the 2nd quarter worth approximately $33,000. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 1.0 %

MMM stock traded up $1.31 during midday trading on Tuesday, hitting $127.16. The stock had a trading volume of 580,522 shares, compared to its average volume of 4,887,923. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The business has a fifty day moving average price of $132.88 and a two-hundred day moving average price of $115.73. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The firm has a market cap of $69.25 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 2.05 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping 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%. The firm's revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.68 EPS. On average, sell-side analysts predict that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.20%. 3M's dividend payout ratio (DPR) is currently 35.35%.

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.