3M (NYSE:MMM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of 3M (NYSE:MMM) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $148.87.

Several equities analysts have recently weighed in on MMM shares. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $170.00 in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th.

3M Trading Down 0.0 %

Shares of 3M stock opened at $149.61 on Friday. The company’s fifty day simple moving average is $132.83 and its 200-day simple moving average is $129.15. 3M has a 1-year low of $75.40 and a 1-year high of $152.08. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market capitalization of $81.47 billion, a PE ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same period in the previous year, the firm earned $2.42 EPS. The firm’s revenue was down 25.0% compared to the same quarter last year. As a group, equities analysts anticipate that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is currently 37.09%.

Hedge Funds Weigh In On 3M

A number of large investors have recently modified their holdings of the business. Financial Life Planners purchased a new position in shares of 3M during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new position in shares of 3M in the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC raised its position in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. lifted its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. 65.25% of the stock is owned by hedge funds and other 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.