3M Co. (NYSE:MMM) – Research analysts at Jefferies Group lifted their FY2018 earnings per share estimates for 3M in a report issued on Tuesday. Jefferies Group analyst L. Alexander now expects that the brokerage will earn $9.75 per share for the year, up from their prior forecast of $9.55. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for 3M’s FY2020 earnings at $12.25 EPS.

A number of other equities analysts have also weighed in on MMM. Morgan Stanley restated a “sell” rating on shares of 3M in a research report on Friday, June 10th. Credit Suisse Group AG restated an “outperform” rating and set a $186.00 target price (up previously from $178.00) on shares of 3M in a research report on Thursday, July 28th. Sanford C. Bernstein restated a “market perform” rating on shares of 3M in a research report on Monday, June 27th. Deutsche Bank AG restated a “hold” rating and set a $164.00 target price on shares of 3M in a research report on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $167.11.

Earnings History and Estimates for 3M (NYSE:MMM)

3M (NYSE:MMM) traded down 0.18% during trading on Thursday, hitting $171.33. 2,249,588 shares of the company’s stock were exchanged. 3M has a 52-week low of $134.64 and a 52-week high of $182.27. The company has a market cap of $103.55 billion, a price-to-earnings ratio of 21.87 and a beta of 0.99. The firm has a 50 day moving average price of $177.42 and a 200 day moving average price of $173.15.

3M (NYSE:MMM) last issued its earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.73 billion. 3M had a net margin of 16.29% and a return on equity of 41.84%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS.

A number of hedge funds and other institutional investors have recently bought and sold shares of MMM. Capstone Asset Management Co. boosted its position in shares of 3M by 2.0% in the second quarter. Capstone Asset Management Co. now owns 144,584 shares of the company’s stock valued at $25,319,000 after buying an additional 2,879 shares during the last quarter. S&CO Inc. boosted its position in shares of 3M by 1.2% in the second quarter. S&CO Inc. now owns 68,419 shares of the company’s stock valued at $11,982,000 after buying an additional 800 shares during the last quarter. CIBC World Markets Inc. boosted its position in shares of 3M by 5.1% in the second quarter. CIBC World Markets Inc. now owns 81,913 shares of the company’s stock valued at $14,345,000 after buying an additional 3,988 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in shares of 3M by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 156,997 shares of the company’s stock valued at $27,493,000 after buying an additional 9,685 shares during the last quarter. Finally, Charter Trust Co. boosted its position in shares of 3M by 1.0% in the second quarter. Charter Trust Co. now owns 92,631 shares of the company’s stock valued at $16,221,000 after buying an additional 951 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

In related news, insider James L. Bauman sold 9,066 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $178.42, for a total value of $1,617,555.72. Following the transaction, the insider now owns 10,834 shares of the company’s stock, valued at approximately $1,933,002.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Khandpur K. Ashish sold 1,679 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $178.39, for a total transaction of $299,516.81. Following the completion of the transaction, the vice president now directly owns 1,011 shares in the company, valued at approximately $180,352.29. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.59%. The ex-dividend date was Wednesday, August 17th. 3M’s dividend payout ratio is presently 56.63%.

About 3M

3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.

5 Day Chart for NYSE:MMM

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