3M Co (NYSE:MMM) has earned a consensus rating of “Hold” from the nineteen brokerages that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $255.64.
A number of research firms recently weighed in on MMM. Barclays began coverage on 3M in a report on Thursday, February 15th. They issued an “underweight” rating and a $235.00 price target for the company. Deutsche Bank raised 3M from a “hold” rating to a “buy” rating and upped their price target for the stock from $240.00 to $275.00 in a report on Tuesday, February 13th. Vetr upgraded 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 price objective for the company in a research note on Monday, February 12th. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $254.00 price objective on shares of 3M in a research note on Thursday, January 25th.
3M (NYSE MMM) opened at $236.67 on Tuesday. The firm has a market capitalization of $140,940.00, a PE ratio of 25.81, a P/E/G ratio of 2.20 and a beta of 1.08. 3M has a fifty-two week low of $182.04 and a fifty-two week high of $259.77. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04.
3M (NYSE:MMM) last released its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.07. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. 3M’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. analysts forecast that 3M will post 10.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a $1.36 dividend. The ex-dividend date is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.30%. 3M’s dividend payout ratio is 59.32%.
In other news, CFO Nicholas C. Gangestad sold 1,681 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $249.76, for a total value of $419,846.56. Following the completion of the sale, the chief financial officer now directly owns 23,562 shares in the company, valued at $5,884,845.12. 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 company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total value of $1,022,610.90. Following the completion of 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 49,673 shares of company stock valued at $12,420,577 over the last 90 days. Company insiders own 0.58% of the company’s stock.
Several hedge funds have recently bought and sold shares of MMM. Tompkins Financial Corp grew its position in 3M by 3.2% in the third quarter. Tompkins Financial Corp now owns 17,532 shares of the conglomerate’s stock worth $3,680,000 after acquiring an additional 538 shares during the period. Oakbrook Investments LLC grew its position in 3M by 18.4% in the third quarter. Oakbrook Investments LLC now owns 9,001 shares of the conglomerate’s stock worth $1,889,000 after acquiring an additional 1,400 shares during the period. Xact Kapitalforvaltning AB grew its position in 3M by 1.8% in the third quarter. Xact Kapitalforvaltning AB now owns 92,687 shares of the conglomerate’s stock worth $19,455,000 after acquiring an additional 1,673 shares during the period. Sky Investment Group LLC grew its position in 3M by 1.8% in the third quarter. Sky Investment Group LLC now owns 24,354 shares of the conglomerate’s stock worth $5,112,000 after acquiring an additional 438 shares during the period. Finally, Aperio Group LLC grew its position in 3M by 6.8% in the third quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock worth $117,360,000 after acquiring an additional 35,815 shares during the period. Institutional investors and hedge funds own 66.17% of the company’s stock.
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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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