Several other analysts have also recently commented on MMM. Royal Bank of Canada increased their target price on 3M from $107.00 to $113.00 and gave the stock an “underperform” rating in a report on Wednesday, October 26th. Bank of America lowered their price objective on shares of 3M from $165.00 to $140.00 in a research report on Friday, September 2nd. UBS Group raised shares of 3M from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $118.00 to $126.00 in a research note on Friday, September 9th. Wells Fargo & Company decreased their price target on shares of 3M from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 26th. Finally, StockNews.com started coverage on shares of 3M in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $133.57.
3M Stock Down 0.3 %
MMM opened at $126.00 on Friday. The firm has a market cap of $69.65 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.30 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.56. The firm’s 50-day simple moving average is $121.71 and its 200-day simple moving average is $129.56. 3M has a twelve month low of $107.07 and a twelve month high of $181.78.
Insider Buying and Selling at 3M
In other news, EVP Kevin H. Rhodes sold 5,703 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the completion of the transaction, the executive vice president now directly owns 2,033 shares in the company, valued at approximately $256,971.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kevin H. Rhodes sold 5,703 shares of 3M stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.40, for a total transaction of $720,859.20. Following the transaction, the executive vice president now owns 2,033 shares of the company’s stock, valued at approximately $256,971.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.28, for a total transaction of $135,245.88. Following the transaction, the senior vice president now owns 3,313 shares of the company’s stock, valued at approximately $418,365.64. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Institutional Trading of 3M
A number of large investors have recently made changes to their positions in the company. Gradient Investments LLC raised its position in shares of 3M by 4.9% during the second quarter. Gradient Investments LLC now owns 92,776 shares of the conglomerate’s stock worth $12,006,000 after purchasing an additional 4,375 shares during the period. Cetera Advisor Networks LLC raised its holdings in 3M by 10.6% during the 2nd quarter. Cetera Advisor Networks LLC now owns 105,769 shares of the conglomerate’s stock worth $13,687,000 after buying an additional 10,105 shares during the period. Clear Harbor Asset Management LLC lifted its stake in 3M by 184.6% in the second quarter. Clear Harbor Asset Management LLC now owns 7,417 shares of the conglomerate’s stock valued at $960,000 after buying an additional 4,811 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of 3M by 22.0% in the second quarter. Wealthfront Advisers LLC now owns 39,356 shares of the conglomerate’s stock valued at $5,093,000 after buying an additional 7,086 shares during the period. Finally, Allworth Financial LP increased its position in shares of 3M by 11.4% during the second quarter. Allworth Financial LP now owns 12,452 shares of the conglomerate’s stock worth $1,611,000 after acquiring an additional 1,273 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.
3M Company Profile
3M Company operates as a diversified technology company worldwide. It 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.
- Get a free copy of the StockNews.com research report on 3M (MMM)
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