UBS Group assumed coverage on shares of 3M (NYSE:MMM) in a report issued on Tuesday, January 23rd, 99wallstreet.com reports. The firm set a “neutral” rating and a $262.00 price target on the conglomerate’s stock. UBS Group’s price objective would suggest a potential upside of 12.93% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Morgan Stanley lifted their price target on 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a report on Monday, October 2nd. Stifel Nicolaus lifted their price target on 3M from $220.00 to $244.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Goldman Sachs Group restated a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Finally, Citigroup boosted their target price on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. 3M presently has an average rating of “Hold” and an average price target of $252.12.
3M (NYSE MMM) traded up $0.64 during midday trading on Tuesday, reaching $232.00. The company’s stock had a trading volume of 2,336,990 shares, compared to its average volume of 2,810,000. The stock has a market cap of $138,180.00, a PE ratio of 29.26, a PEG ratio of 2.13 and a beta of 1.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. 3M has a fifty-two week low of $180.15 and a fifty-two week high of $259.77.
3M (NYSE:MMM) last posted its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.85 billion. During the same period last year, the company earned $1.88 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. equities analysts predict that 3M will post 10.6 EPS for the current fiscal year.
In other 3M news, VP Ippocratis Vrohidis sold 225 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total transaction of $56,178.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael F. Roman sold 4,146 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $246.65, for a total value of $1,022,610.90. Following the sale, the executive vice president now owns 16,208 shares of the company’s stock, valued at $3,997,703.20. The disclosure for this sale can be found here. Insiders sold a total of 49,673 shares of company stock valued at $12,420,577 in the last ninety days. 0.58% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Lenox Wealth Advisors Inc. grew its position in shares of 3M by 16,300.0% in the fourth quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 489 shares in the last quarter. Horan Capital Management purchased a new stake in shares of 3M in the fourth quarter valued at approximately $123,000. Virtue Capital Management LLC purchased a new stake in shares of 3M in the fourth quarter valued at approximately $127,000. Sawyer & Company Inc purchased a new stake in shares of 3M in the fourth quarter valued at approximately $138,000. Finally, Field & Main Bank purchased a new stake in shares of 3M in the fourth quarter valued at approximately $140,000. Institutional investors own 66.09% of the company’s stock.
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3M Company Profile
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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