Brokerages Set 3M Co. (MMM) PT at $165.64
3M Co. (NYSE:MMM) has earned an average rating of “Hold” from the fourteen brokerages that are presently covering the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $164.27.
MMM has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued a “market perform” rating on shares of 3M in a report on Monday, June 27th. Jefferies Group reissued a “buy” rating on shares of 3M in a report on Wednesday, July 6th. Credit Suisse Group AG reissued a “buy” rating on shares of 3M in a report on Sunday, July 10th. Morgan Stanley reissued a “sell” rating and issued a $168.00 price target on shares of 3M in a report on Tuesday, August 23rd. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $164.00 price target on shares of 3M in a report on Thursday, August 25th.
In other news, insider Paul A. Keel sold 3,180 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $178.39, for a total transaction of $567,280.20. Following the transaction, the insider now owns 9,961 shares of the company’s stock, valued at approximately $1,776,942.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Khandpur K. Ashish sold 1,679 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $178.39, for a total value of $299,516.81. Following 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 owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in 3M by 2.0% in the second quarter. Vanguard Group Inc. now owns 42,183,048 shares of the company’s stock worth $7,387,096,000 after buying an additional 822,712 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in 3M by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,477,856 shares of the company’s stock worth $2,885,602,000 after buying an additional 527,158 shares during the last quarter. FMR LLC increased its position in 3M by 5.1% in the second quarter. FMR LLC now owns 8,774,300 shares of the company’s stock worth $1,536,555,000 after buying an additional 425,320 shares during the last quarter. BlackRock Fund Advisors increased its position in 3M by 1.5% in the second quarter. BlackRock Fund Advisors now owns 8,004,556 shares of the company’s stock worth $1,401,758,000 after buying an additional 121,033 shares during the last quarter. Finally, BlackRock Group LTD increased its position in 3M by 9.1% in the second quarter. BlackRock Group LTD now owns 5,446,580 shares of the company’s stock worth $953,805,000 after buying an additional 453,554 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.
3M (NYSE:MMM) opened at 170.33 on Friday. The company has a market cap of $102.95 billion, a PE ratio of 21.74 and a beta of 0.99. 3M has a one year low of $134.64 and a one year high of $182.27. The stock has a 50 day moving average of $176.09 and a 200 day moving average of $173.28.
3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. 3M had a return on equity of 41.84% and a net margin of 16.29%. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the previous year, the firm earned $2.02 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that 3M will post $8.21 earnings per share for the current fiscal year.
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.
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