3M Company (NYSE:MMM) had its price objective boosted by equities researchers at Stifel Nicolaus from $220.00 to $244.00 in a note issued to investors on Wednesday, October 25th, MarketBeat.com reports. The firm presently has a “hold” rating on the conglomerate’s stock. Stifel Nicolaus’ target price suggests a potential upside of 7.28% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $209.00 target price on shares of 3M in a research note on Friday, September 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $234.00 price target on shares of 3M in a report on Wednesday, August 16th. J P Morgan Chase & Co cut shares of 3M from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $185.00 to $201.00 in a report on Wednesday, September 20th. Morgan Stanley boosted their target price on shares of 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $231.16.
3M (MMM) opened at $227.45 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. 3M has a 1 year low of $170.72 and a 1 year high of $238.90. The firm has a market cap of $135,471.03, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.08.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. 3M’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $2.15 earnings per share. sell-side analysts expect that 3M will post 9.08 EPS for the current fiscal year.
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In other news, CAO Ippocratis Vrohidis sold 1,725 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $230.34, for a total value of $397,336.50. Following the completion of the transaction, the chief accounting officer now directly owns 898 shares in the company, valued at $206,845.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Eric D. Hammes sold 1,428 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the transaction, the vice president now owns 3,066 shares of the company’s stock, valued at $633,619.56. The disclosure for this sale can be found here. In the last three months, insiders sold 26,951 shares of company stock valued at $6,159,012. Corporate insiders own 0.58% of the company’s stock.
Several institutional investors have recently bought and sold shares of MMM. Capital Investment Counsel Inc increased its position in shares of 3M by 7.0% in the first quarter. Capital Investment Counsel Inc now owns 2,889 shares of the conglomerate’s stock valued at $553,000 after buying an additional 189 shares in the last quarter. Verity & Verity LLC increased its position in shares of 3M by 9.7% in the first quarter. Verity & Verity LLC now owns 28,060 shares of the conglomerate’s stock valued at $5,368,000 after buying an additional 2,488 shares in the last quarter. Swedbank increased its position in shares of 3M by 0.6% in the first quarter. Swedbank now owns 530,212 shares of the conglomerate’s stock valued at $101,445,000 after buying an additional 3,267 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of 3M by 1.8% in the first quarter. North Star Investment Management Corp. now owns 10,202 shares of the conglomerate’s stock valued at $1,952,000 after buying an additional 180 shares in the last quarter. Finally, Macguire Cheswick & Tuttle Investment Counsel LLC boosted its stake in shares of 3M by 28.1% in the first quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 3,081 shares of the conglomerate’s stock worth $589,000 after acquiring an additional 675 shares during the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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