Weiss Ratings Reiterates "Hold (C+)" Rating for 3M (NYSE:MMM)

3M (NYSE:MMM - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the company. Barclays increased their target price on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and issued a $96.00 price objective on shares of 3M in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and an average target price of $149.13.

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3M Price Performance

Shares of 3M stock traded down $0.59 during trading on Friday, hitting $146.36. The stock had a trading volume of 5,891,015 shares, compared to its average volume of 4,315,292. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12 month low of $78.14 and a 12 month high of $156.35. The firm has a market cap of $79.46 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.30 and a beta of 0.97. The business's 50-day moving average is $144.51 and its 200 day moving average is $136.23.

3M (NYSE:MMM - Get Free Report) last released 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 firm had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company's revenue was down 25.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 EPS. As a group, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current year.

Insider Activity at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 over the last quarter. Corporate insiders own 0.34% of the company's stock.

Institutional Trading of 3M

A number of hedge funds have recently modified their holdings of MMM. Financial Life Planners purchased a new position in 3M during the 4th quarter valued at about $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M in the 4th quarter worth approximately $26,000. REAP Financial Group LLC grew its stake in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after buying an additional 94 shares during the last quarter. FSA Wealth Management LLC bought a new position in 3M during the 3rd quarter valued at approximately $27,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in 3M during the fourth quarter valued at $27,000. 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.