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

Sanford C. Bernstein upgraded shares of 3M (NYSE:MMM) to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently commented on MMM. HSBC boosted their target price on 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price target on 3M from $182.00 to $178.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Citigroup reduced their price target on 3M from $175.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada reduced their price target on 3M from $134.00 to $133.00 and set an “underperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group boosted their price target on 3M from $160.00 to $170.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $168.08.

3M Stock Performance

Shares of NYSE MMM opened at $156.94 on Tuesday. The business’s 50-day moving average price is $149.07 and its two-hundred day moving average price is $157.23. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.59 and a quick ratio of 1.19. 3M has a one year low of $139.34 and a one year high of $177.41. The company has a market capitalization of $81.85 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 2.26 and a beta of 1.03.

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

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 22nd. 3M’s payout ratio is currently 60.12%.

Hedge Funds Weigh In On 3M

Several large investors have recently made changes to their positions in the business. American Trust lifted its position in shares of 3M by 3.4% during the 4th quarter. American Trust now owns 1,803 shares of the conglomerate’s stock worth $289,000 after purchasing an additional 60 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV lifted its position in shares of 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after purchasing an additional 61 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of 3M by 32.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 71 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in shares of 3M by 4.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock worth $288,000 after purchasing an additional 72 shares during the last quarter. Finally, Morse Asset Management Inc increased its stake in 3M by 0.7% during the fourth quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate’s stock valued at $1,715,000 after acquiring an additional 75 shares during the period. 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).