3M (NYSE:MMM - Get Free Report) saw some unusual options trading on Tuesday. Stock investors bought 24,151 call options on the company. This represents an increase of 65% compared to the typical volume of 14,629 call options.
Analyst Ratings Changes
A number of equities research analysts have recently commented on MMM shares. Mizuho increased their price objective 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 upped their target price on 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Barclays increased their target price on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and lifted their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, 3M currently has a consensus rating of "Moderate Buy" and an average target price of $144.60.
Check Out Our Latest Research Report on 3M
Institutional Investors Weigh In On 3M
Large investors have recently modified their holdings of the company. D.A. Davidson & CO. grew its holdings in shares of 3M by 16.2% during the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate's stock valued at $20,004,000 after buying an additional 20,421 shares during the last quarter. Franklin Resources Inc. boosted its position in 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock worth $114,770,000 after purchasing an additional 178,450 shares during the last quarter. Ballentine Partners LLC grew its position in 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate's stock valued at $2,490,000 after buying an additional 5,210 shares during the period. Stonegate Investment Group LLC increased its stake in shares of 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate's stock worth $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its stake in shares of 3M by 6.7% in the second quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate's stock valued at $408,000 after buying an additional 249 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.
3M Stock Performance
MMM stock traded up $2.30 during midday trading on Tuesday, reaching $132.59. 3,414,513 shares of the company were exchanged, compared to its average volume of 3,001,073. 3M has a one year low of $75.40 and a one year high of $141.34. The firm has a market capitalization of $72.20 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The business has a 50-day moving average price of $130.18 and a two-hundred day moving average price of $126.00. 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 (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the business posted $2.68 earnings per share. The firm's quarterly revenue was down 24.3% compared to the same quarter last year. Equities research analysts forecast that 3M will post 7.27 EPS for the current year.
3M Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, November 15th. 3M's payout ratio is presently 35.35%.
About 3M
(
Get Free Report)
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.
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