3M Co. (MMM) Receives Average Rating of “Hold” from Analysts
3M Co. (NYSE:MMM) has received an average recommendation of “Hold” from the fifteen ratings firms that are covering the firm. Four investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $167.31.
A number of equities analysts recently commented on the company. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research note on Friday, October 28th. Jefferies Group reissued a “buy” rating on shares of 3M in a research note on Thursday, August 4th. Credit Suisse Group AG reissued an “outperform” rating and set a $186.00 price target (up from $178.00) on shares of 3M in a research note on Thursday, July 28th. RBC Capital Markets reissued an “underperform” rating and set a $155.00 price target (down from $159.00) on shares of 3M in a research note on Wednesday, October 26th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $164.00 price target on shares of 3M in a research note on Thursday, August 25th.
Shares of 3M (NYSE:MMM) opened at 171.91 on Friday. 3M has a 12 month low of $134.64 and a 12 month high of $182.27. The stock has a 50 day moving average price of $170.01 and a 200-day moving average price of $173.77. The company has a market capitalization of $103.40 billion, a price-to-earnings ratio of 21.68 and a beta of 1.04.
3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 25th. The company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.01. The firm earned $7.70 billion during the quarter, compared to analyst estimates of $7.72 billion. 3M had a return on equity of 42.27% and a net margin of 16.40%. During the same quarter in the prior year, the company posted $2.05 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts expect that 3M will post $8.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $4.44 annualized dividend and a yield of 2.58%. 3M’s dividend payout ratio (DPR) is currently 55.92%.
In related news, VP Eric D. Hammes sold 504 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $173.69, for a total value of $87,539.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Julie L. Bushman sold 10,771 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $166.71, for a total value of $1,795,633.41. Following the completion of the transaction, the insider now directly owns 34,093 shares in the company, valued at approximately $5,683,644.03. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cable Hill Partners LLC boosted its stake in shares of 3M by 5.0% in the second quarter. Cable Hill Partners LLC now owns 583 shares of the company’s stock valued at $103,000 after buying an additional 28 shares during the period. Reilly Financial Advisors LLC boosted its stake in shares of 3M by 38.1% in the second quarter. Reilly Financial Advisors LLC now owns 645 shares of the company’s stock valued at $113,000 after buying an additional 178 shares during the period. CenturyLink Investment Management Co bought a new stake in shares of 3M during the second quarter valued at about $116,000. Concannon Wealth Management LLC boosted its stake in shares of 3M by 45.6% in the third quarter. Concannon Wealth Management LLC now owns 655 shares of the company’s stock valued at $116,000 after buying an additional 205 shares during the period. Finally, Jackson Grant Investment Advisers Inc. boosted its stake in shares of 3M by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock valued at $124,000 after buying an additional 49 shares during the period. 65.53% of the stock is currently owned by institutional investors.
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3M Company Profile
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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