3M (NYSE:MMM) Given “Hold (C+)” Rating at Weiss Ratings

Weiss Ratings reaffirmed their hold (c+) rating on shares of 3M (NYSE:MMM) in a report released on Saturday,Weiss Ratings reports.

Several other research firms have also weighed in on MMM. Royal Bank of Canada upped their price objective on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays lifted their price target on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Finally, Citigroup decreased their price objective on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

3M Stock Performance

Shares of NYSE MMM opened at $142.25 on Friday. The firm has a market capitalization of $76.56 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.30 and a beta of 1.02. 3M has a one year low of $96.76 and a one year high of $156.35. The business has a fifty day simple moving average of $141.31 and a 200 day simple moving average of $138.61. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Sell-side analysts expect that 3M will post 7.8 EPS for the current year.

Institutional Trading of 3M

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of 3M in the 4th quarter worth $25,000. Proficio Capital Partners LLC bought a new position in 3M in the 4th quarter worth about $26,000. REAP Financial Group LLC increased its holdings in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in 3M in the fourth quarter valued at approximately $27,000. Finally, Pinney & Scofield Inc. bought a new position in 3M in the fourth quarter valued at $28,000. 65.25% of the stock is owned by institutional investors.

3M Company Profile

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.