3M (NYSE:MMM) Receives “Neutral” Rating from Mizuho

Mizuho reiterated their neutral rating on shares of 3M (NYSE:MMM) in a research report report published on Wednesday morning, Benzinga reports. Mizuho currently has a $105.00 target price on the conglomerate’s stock.

A number of other research analysts have also weighed in on the stock. StockNews.com started coverage on shares of 3M in a research note on Wednesday. They issued a buy rating on the stock. Citigroup reduced their price target on shares of 3M from $117.00 to $104.00 and set a neutral rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed an underperform rating and set a $84.00 price target on shares of 3M in a research report on Wednesday, March 20th. Wells Fargo & Company reduced their price target on shares of 3M from $112.00 to $105.00 and set an equal weight rating on the stock in a research report on Wednesday, January 24th. Finally, Barclays raised shares of 3M from an equal weight rating to an overweight rating and lifted their price target for the company from $111.00 to $126.00 in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $107.60.

3M Price Performance

NYSE:MMM opened at $106.07 on Wednesday. 3M has a 52 week low of $85.35 and a 52 week high of $113.14. 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 market capitalization of $58.62 billion, a PE ratio of -8.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.00. The stock’s 50-day moving average price is $96.85 and its 200-day moving average price is $97.84.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period last year, the company posted $2.28 EPS. 3M’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that 3M will post 9.77 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 5.69%. 3M’s dividend payout ratio is -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Several hedge funds and other institutional investors have recently made changes to their positions in MMM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in 3M by 15.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock valued at $10,391,000 after purchasing an additional 14,775 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of 3M in the third quarter valued at approximately $3,855,000. Shoker Investment Counsel Inc. boosted its holdings in shares of 3M by 49.7% in the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock valued at $1,568,000 after acquiring an additional 5,561 shares during the period. Diversified Trust Co boosted its holdings in shares of 3M by 1.4% in the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock valued at $2,021,000 after acquiring an additional 263 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of 3M in the third quarter valued at approximately $11,908,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.