3M (NYSE:MMM)‘s stock had its “hold” rating reaffirmed by research analysts at Stifel Nicolaus in a report issued on Monday, April 2nd, MarketBeat Ratings reports. They currently have a $225.00 price objective on the conglomerate’s stock, down from their prior price objective of $251.00. Stifel Nicolaus’ price objective points to a potential upside of 2.30% from the stock’s current price.
A number of other analysts also recently issued reports on MMM. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $271.00 price target for the company in a report on Monday, January 15th. Vetr downgraded 3M from a “buy” rating to a “hold” rating and set a $251.35 target price for the company. in a report on Tuesday, February 27th. UBS began coverage on 3M in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $262.00 target price for the company. JPMorgan Chase reissued an “underweight” rating and issued a $221.00 target price (up from $208.00) on shares of 3M in a report on Thursday, January 18th. Finally, Deutsche Bank boosted their target price on 3M from $180.00 to $240.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $253.22.
3M stock traded up $2.25 during trading on Monday, reaching $219.95. 1,203,591 shares of the company were exchanged, compared to its average volume of 2,632,349. 3M has a 52-week low of $189.51 and a 52-week high of $259.77. The company has a market cap of $128,342.16, a price-to-earnings ratio of 24.00, a PEG ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86.
3M (NYSE:MMM) last posted its earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. analysts predict that 3M will post 10.56 EPS for the current fiscal year.
In other 3M news, EVP Frank R. Jr. Little sold 3,133 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $236.85, for a total transaction of $742,051.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael F. Roman sold 4,146 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $246.65, for a total value of $1,022,610.90. Following the transaction, the executive vice president now directly owns 16,208 shares in the company, valued at approximately $3,997,703.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,806 shares of company stock worth $13,162,628. 0.72% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of MMM. Lenox Wealth Advisors Inc. increased its holdings in 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 489 shares in the last quarter. Horan Capital Management acquired a new stake in 3M in the 4th quarter valued at $123,000. Virtue Capital Management LLC acquired a new stake in 3M in the 4th quarter valued at $127,000. Sawyer & Company Inc acquired a new stake in 3M in the 4th quarter valued at $138,000. Finally, Field & Main Bank acquired a new stake in 3M in the 4th quarter valued at $140,000. 66.89% of the stock is currently owned by institutional investors.
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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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