3M (NYSE:MMM) Rating Increased to Strong Sell at Sanford C. Bernstein

3M (NYSE:MMM) was upgraded by stock analysts at Sanford C. Bernstein to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. HSBC lifted their price target on shares of 3M from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of 3M from $182.00 to $178.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Jefferies Financial Group lifted their price target on shares of 3M from $160.00 to $170.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Wells Fargo & Company lifted their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research lowered their price target on shares of 3M from $205.00 to $186.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, 3M currently has a consensus rating of “Hold” and an average target price of $168.08.

3M Stock Performance

Shares of MMM opened at $156.94 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. The stock has a market cap of $81.85 billion, a P/E ratio of 30.24, a PEG ratio of 2.26 and a beta of 1.03. The company has a 50-day moving average of $149.07 and a two-hundred day moving average of $157.23. 3M has a 12-month low of $139.34 and a 12-month high of $177.41.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.04 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, research analysts predict that 3M will post 8.7 EPS for the current fiscal year.

Hedge Funds Weigh In On 3M

A number of hedge funds have recently made changes to their positions in the stock. Rathbones Group PLC grew its stake in 3M by 1.0% during the first quarter. Rathbones Group PLC now owns 7,809 shares of the conglomerate’s stock worth $1,134,000 after buying an additional 80 shares during the period. Parallel Advisors LLC grew its stake in 3M by 1.6% during the first quarter. Parallel Advisors LLC now owns 13,170 shares of the conglomerate’s stock worth $1,913,000 after buying an additional 209 shares during the period. Entropy Technologies LP purchased a new stake in 3M during the first quarter worth approximately $10,945,000. Oslo Pensjonsforsikring AS purchased a new stake in 3M during the first quarter worth approximately $434,000. Finally, Koss Olinger Consulting LLC purchased a new stake in 3M during the first quarter worth approximately $413,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).