MED cut shares of 3M (NYSE:MMM) from a buy rating to a hold rating in a research note issued to investors on Thursday, The Fly reports. They currently have $208.00 price target on the conglomerate’s stock.
A number of other analysts have also weighed in on MMM. Vetr raised 3M from a buy rating to a strong-buy rating and set a $256.47 price objective on the stock in a research report on Friday, March 23rd. ValuEngine downgraded shares of 3M from a buy rating to a hold rating in a research note on Friday, March 23rd. Citigroup set a $284.00 target price on shares of 3M and gave the stock a buy rating in a research note on Saturday, March 24th. Barclays lowered their target price on shares of 3M from $235.00 to $230.00 and set an underweight rating for the company in a research note on Monday, March 26th. Finally, Zacks Investment Research downgraded shares of 3M from a buy rating to a hold rating in a research note on Wednesday, March 28th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $234.79.
Shares of 3M opened at $201.18 on Thursday, according to MarketBeat Ratings. The company has a market capitalization of $119.44 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.91 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.17 and a current ratio of 1.65. 3M has a 52-week low of $191.44 and a 52-week high of $259.77.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMM. HC Financial Advisors Inc. acquired a new position in 3M in the fourth quarter valued at $1,393,000. Alexandria Capital LLC boosted its stake in shares of 3M by 117.9% during the fourth quarter. Alexandria Capital LLC now owns 2,358 shares of the conglomerate’s stock worth $555,000 after buying an additional 1,276 shares during the period. Mission Wealth Management LP boosted its stake in shares of 3M by 28.3% during the fourth quarter. Mission Wealth Management LP now owns 6,369 shares of the conglomerate’s stock worth $1,499,000 after buying an additional 1,403 shares during the period. Dragon Financial & Investment Group LLC acquired a new stake in shares of 3M during the fourth quarter worth about $389,000. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of 3M by 8.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,028 shares of the conglomerate’s stock worth $1,443,000 after buying an additional 444 shares during the period. Institutional investors own 65.54% of the company’s stock.
3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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