Shares of 3M Co (NYSE:MMM) have earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $255.38.
A number of research analysts recently issued reports on MMM shares. ValuEngine downgraded 3M from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Argus restated a “buy” rating on shares of 3M in a report on Friday, December 22nd. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank upped their target price on 3M from $180.00 to $240.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Finally, Citigroup upped their target price on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th.
3M (NYSE:MMM) opened at $237.22 on Friday. 3M has a twelve month low of $188.62 and a twelve month high of $259.77. The stock has a market capitalization of $140,460.58, a PE ratio of 29.95, a P/E/G ratio of 2.19 and a beta of 1.10. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.
3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the previous year, the business earned $1.88 EPS. 3M’s revenue was up 9.0% compared to the same quarter last year. equities analysts forecast that 3M will post 10.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were given a $1.36 dividend. This is a boost from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s payout ratio is currently 68.69%.
In other news, 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 directly owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Frank R. Jr. Little sold 3,133 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $236.85, for a total value of $742,051.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,806 shares of company stock worth $13,162,628. Insiders own 0.58% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MMM. New York State Common Retirement Fund boosted its position in shares of 3M by 0.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock worth $356,877,000 after purchasing an additional 8,500 shares in the last quarter. Fayez Sarofim & Co. lifted its position in 3M by 0.8% in the 3rd quarter. Fayez Sarofim & Co. now owns 50,556 shares of the conglomerate’s stock valued at $10,612,000 after acquiring an additional 397 shares in the last quarter. Berkeley Capital Partners LLC bought a new position in 3M in the 3rd quarter valued at approximately $247,000. Pacer Advisors Inc. lifted its position in 3M by 11.8% in the 3rd quarter. Pacer Advisors Inc. now owns 15,215 shares of the conglomerate’s stock valued at $3,194,000 after acquiring an additional 1,607 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in 3M by 34.3% in the 3rd quarter. Park Avenue Securities LLC now owns 1,418 shares of the conglomerate’s stock valued at $302,000 after acquiring an additional 362 shares in the last quarter. 66.89% of the stock is currently owned by hedge funds and other institutional investors.
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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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