Shares of 3M (NYSE:MMM) have been given an average rating of “Hold” by the fourteen brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $198.92.
A number of analysts have weighed in on MMM shares. Wolfe Research cut 3M from a “peer perform” rating to an “underperform” rating and decreased their price objective for the stock from $218.00 to $215.00 in a research report on Monday, July 12th. Deutsche Bank Aktiengesellschaft raised their price target on 3M from $196.00 to $201.00 and gave the company a “hold” rating in a report on Wednesday, July 28th. Argus raised their price objective on 3M from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. They noted that the move was a valuation call. Credit Suisse Group downgraded 3M from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $210.00 to $212.00 in a research note on Tuesday, July 6th. Finally, Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $208.00 price objective for the company in a research note on Friday, August 6th.
Shares of NYSE MMM opened at $182.42 on Friday. The stock’s 50-day moving average is $196.65 and its two-hundred day moving average is $196.42. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.73 and a quick ratio of 1.22. 3M has a 1-year low of $156.13 and a 1-year high of $208.95. The company has a market cap of $105.56 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 12th. Stockholders of record on Monday, August 23rd were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, August 20th. 3M’s dividend payout ratio is currently 67.73%.
In related news, insider Eric D. Hammes sold 1,765 shares of 3M stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $201.83, for a total value of $356,229.95. Following the transaction, the insider now owns 6,756 shares in the company, valued at $1,363,563.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey R. Lavers sold 6,025 shares of 3M stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $200.00, for a total value of $1,205,000.00. Following the completion of the transaction, the insider now owns 10,973 shares in the company, valued at approximately $2,194,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,666 shares of company stock valued at $4,103,569. Company insiders own 0.34% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its position in shares of 3M by 14.2% during the first quarter. Envestnet Asset Management Inc. now owns 653,675 shares of the conglomerate’s stock worth $125,950,000 after acquiring an additional 81,257 shares during the last quarter. Compton Capital Management Inc. RI increased its holdings in 3M by 3.3% in the first quarter. Compton Capital Management Inc. RI now owns 13,305 shares of the conglomerate’s stock valued at $2,564,000 after buying an additional 420 shares during the last quarter. Natixis Advisors L.P. increased its holdings in 3M by 24.9% in the first quarter. Natixis Advisors L.P. now owns 102,605 shares of the conglomerate’s stock valued at $19,769,000 after buying an additional 20,445 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in 3M by 12.7% in the first quarter. IFM Investors Pty Ltd now owns 62,382 shares of the conglomerate’s stock valued at $12,020,000 after buying an additional 7,011 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new stake in 3M in the first quarter valued at about $140,000. Institutional investors own 66.82% of the company’s stock.
3M Company Profile
3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.
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