3M (NYSE:MMM) PT Raised to $146.00

by · The Markets Daily

3M (NYSE:MMM – Free Report) had its price target raised by Mizuho from $105.00 to $146.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the conglomerate’s stock.

A number of other equities research analysts have also recently commented on MMM. Morgan Stanley started coverage on shares of 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 price objective on the stock. Citigroup increased their target price on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Bank of America raised their price objective on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $130.57.

Get Our Latest Stock Analysis on 3M

3M Stock Down 0.4 %

MMM stock opened at $135.75 on Thursday. The company has a market capitalization of $75.12 billion, a P/E ratio of -10.67, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. 3M has a 12 month low of $71.12 and a 12 month high of $140.72. The firm’s fifty day simple moving average is $132.45 and its 200-day simple moving average is $112.30. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08.

3M (NYSE:MMM – Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.68 by $0.25. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period in the prior year, the company earned $2.17 earnings per share. As a group, equities research analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.06%. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Insider Activity

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

A number of institutional investors have recently bought and sold shares of the company. Accurate Wealth Management LLC lifted its holdings in 3M by 2.6% in the third quarter. Accurate Wealth Management LLC now owns 8,425 shares of the conglomerate’s stock valued at $1,144,000 after acquiring an additional 211 shares during the last quarter. KMG Fiduciary Partners LLC lifted its stake in shares of 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after purchasing an additional 84 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of 3M by 9.7% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 2,549 shares of the conglomerate’s stock worth $348,000 after purchasing an additional 226 shares during the period. Stonegate Investment Group LLC raised its holdings in 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after buying an additional 13,473 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in 3M by 9.6% in the third quarter. V Square Quantitative Management LLC now owns 8,832 shares of the conglomerate’s stock valued at $1,207,000 after buying an additional 777 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

About 3M

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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.

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