Shares of 3M Company (NYSE:MMM) have earned an average recommendation of “Hold” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $233.85.
Several analysts recently issued reports on MMM shares. Stifel Nicolaus reissued a “hold” rating and issued a $202.00 price target on shares of 3M in a research report on Wednesday, July 19th. BidaskClub downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. William Blair reaffirmed an “outperform” rating on shares of 3M in a report on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $209.00 price objective (down from $210.00) on shares of 3M in a report on Wednesday, July 26th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $190.00 price objective (down from $191.00) on shares of 3M in a report on Wednesday, July 26th.
3M (NYSE:MMM) traded up $1.11 during midday trading on Friday, reaching $229.33. 1,393,100 shares of the company traded hands, compared to its average volume of 1,839,062. 3M has a twelve month low of $170.72 and a twelve month high of $238.90. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. The firm has a market cap of $135,929.69, a P/E ratio of 25.50, a P/E/G ratio of 2.47 and a beta of 1.08.
3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the firm posted $2.15 EPS. 3M’s revenue was up 6.0% compared to the same quarter last year. sell-side analysts anticipate that 3M will post 9.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be issued a $0.0118 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.02%. 3M’s dividend payout ratio (DPR) is currently 52.51%.
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In related news, Chairman Inge G. Thulin sold 6,823 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $233.14, for a total value of $1,590,714.22. Following the sale, the chairman now directly owns 196,906 shares in the company, valued at approximately $45,906,664.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eric D. Hammes sold 1,428 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the sale, the vice president now owns 3,066 shares in the company, valued at $633,619.56. The disclosure for this sale can be found here. Insiders sold a total of 26,951 shares of company stock worth $6,159,012 over the last three months. 0.58% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in MMM. American Century Companies Inc. raised its stake in 3M by 37.1% in the 1st quarter. American Century Companies Inc. now owns 3,148,266 shares of the conglomerate’s stock valued at $602,358,000 after acquiring an additional 852,262 shares during the period. Karp Capital Management Corp raised its stake in 3M by 16,353.8% in the 1st quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock valued at $94,947,000 after acquiring an additional 493,230 shares during the period. Swiss National Bank raised its stake in 3M by 26.6% in the 1st quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock valued at $407,782,000 after acquiring an additional 447,900 shares during the period. Capital Research Global Investors bought a new stake in 3M in the 2nd quarter valued at about $89,237,000. Finally, Bank of New York Mellon Corp raised its stake in 3M by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock valued at $1,309,651,000 after acquiring an additional 300,345 shares during the period. Institutional investors and hedge funds own 66.26% of the company’s stock.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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