3M Company (NYSE:MMM) Receives $172.67 Average Target Price from Analysts

Shares of 3M Company (NYSE:MMM) have received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $175.10.

Several equities analysts have recently issued reports on the stock. Citigroup raised their price target on shares of 3M from $160.00 to $169.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. UBS Group raised their target price on 3M from $184.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada lifted their target price on 3M from $120.00 to $130.00 and gave the stock an “underperform” rating in a report on Wednesday, October 22nd. Wolfe Research upped their price target on 3M from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of 3M in a research report on Wednesday, October 8th.

3M Stock Performance

NYSE:MMM opened at $168.08 on Friday. The stock’s 50-day moving average is $160.26 and its 200-day moving average is $154.25. 3M has a 1-year low of $121.98 and a 1-year high of $172.85. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 2.54. The stock has a market cap of $89.29 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.90 and a beta of 1.06.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share (EPS) for the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. The business had revenue of $8.38 billion during the quarter. Equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a $0.73 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.7%. 3M’s payout ratio is 46.65%.

Insiders Place Their Bets

In other 3M news, EVP Zoe L. Dickson sold 13,826 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the sale, the executive vice president owned 6,162 shares of the company’s stock, valued at approximately $1,046,184.36. This represents a 69.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark W. Murphy sold 19,061 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total value of $3,174,609.55. Following the sale, the executive vice president owned 6,594 shares of the company’s stock, valued at approximately $1,098,230.70. The trade was a 74.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 46,516 shares of company stock worth $7,836,465. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Institutional investors and hedge funds have recently made changes to their positions in the business. GFG Capital LLC bought a new stake in 3M in the second quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of 3M during the 1st quarter worth approximately $28,000. WPG Advisers LLC bought a new stake in shares of 3M in the 1st quarter valued at $28,000. Saudi Central Bank acquired a new position in shares of 3M during the 1st quarter valued at $31,000. Finally, J.Safra Asset Management Corp bought a new position in 3M during the third quarter worth $34,000. 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.