3M (NYSE:MMM) Rating Increased to Strong-Buy at StockNews.com

3M (NYSE:MMM) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Several other brokerages have also recently issued reports on MMM. Royal Bank of Canada reduced their target price on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Citigroup lifted their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays dropped their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Mizuho reiterated a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Hold” and a consensus price target of $103.50.

3M Price Performance

NYSE:MMM traded down $0.25 on Tuesday, reaching $91.05. 3,035,368 shares of the company’s stock traded hands, compared to its average volume of 5,970,965. 3M has a 12 month low of $71.12 and a 12 month high of $95.67. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The stock has a 50-day simple moving average of $95.87 and a 200-day simple moving average of $97.31. The firm has a market cap of $50.38 billion, a PE ratio of -7.21, a P/E/G ratio of 1.61 and a beta of 1.02.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm posted $2.28 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that 3M will post 8.79 earnings per share for the current year.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Financial Freedom LLC bought a new stake in shares of 3M during the fourth quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in shares of 3M during the third quarter valued at approximately $28,000. Northwest Investment Counselors LLC bought a new stake in shares of 3M during the first quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of 3M during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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.