By otakuyassine3@gmail.com 
3M (NYSE:MMM – Get Free Report) has earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $144.87.
MMM has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, October 23rd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective 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. Morgan Stanley assumed coverage on shares of 3M in a report on Friday, September 6th. They set an “underweight” rating and a $125.00 target price for the company. Finally, Mizuho lifted their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th.
Read Our Latest Stock Report on MMM
Institutional Investors Weigh In On 3M
A number of institutional investors have recently added to or reduced their stakes in the stock. FSA Wealth Management LLC bought a new position in shares of 3M during the third quarter worth $27,000. McClarren Financial Advisors Inc. boosted its holdings in shares of 3M by 118.6% during 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 during the last quarter. Meeder Asset Management Inc. grew its position in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of 3M in the third quarter worth about $57,000. 65.25% of the stock is owned by hedge funds and other institutional investors.
3M Price Performance
MMM opened at $129.09 on Wednesday. The company’s 50-day simple moving average is $129.93 and its two-hundred day simple moving average is $124.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The stock has a market capitalization of $70.30 billion, a P/E ratio of 16.30, a P/E/G ratio of 2.15 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $141.34.
3M (NYSE:MMM – Get Free Report) last issued 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. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company 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 firm earned $2.68 earnings per share. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. As a group, analysts predict that 3M will post 7.27 EPS for the current year.
3M Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. 3M’s dividend payout ratio is presently 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.
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