3M (NYSE:MMM) Price Target Raised to $165.00

3M (NYSE:MMM) had its price objective increased by Barclays from $160.00 to $165.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the conglomerate’s stock.

Other research analysts have also issued reports about the company. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Mizuho raised their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $135.67.

3M Stock Down 2.9 %

Shares of NYSE:MMM opened at $127.91 on Wednesday. The business has a 50-day moving average price of $133.07 and a 200 day moving average price of $113.57. 3M has a 12-month low of $72.47 and a 12-month high of $141.34. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $70.78 billion, a price-to-earnings ratio of -10.06, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business’s revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. Sell-side analysts expect that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is presently -22.01%.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Institutional Trading of 3M

Institutional investors and hedge funds have recently made changes to their positions in the company. Tributary Capital Management LLC acquired a new position in 3M during the first quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of 3M during the second quarter worth approximately $28,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares during the period. McClarren Financial Advisors Inc. raised its position in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

About 3M

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.