3M (MMM) Downgraded by ValuEngine
ValuEngine cut shares of 3M (NYSE:MMM) from a buy rating to a hold rating in a research note released on Friday morning.
A number of other research analysts have also commented on MMM. Jefferies Group reaffirmed a buy rating and set a $234.00 price objective on shares of 3M in a research report on Wednesday, August 16th. Bank of America reaffirmed a buy rating and set a $227.00 price objective on shares of 3M in a research report on Thursday, September 14th. Royal Bank Of Canada reaffirmed a hold rating and set a $209.00 price objective on shares of 3M in a research report on Friday, September 15th. J P Morgan Chase & Co lowered shares of 3M from a neutral rating to an underweight rating and upped their price objective for the company from $185.00 to $201.00 in a research report on Wednesday, September 20th. Finally, Morgan Stanley upped their price objective on shares of 3M from $190.00 to $201.00 and gave the company an underweight rating in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $231.16.
3M (NYSE MMM) opened at $239.26 on Friday. The company has a market cap of $143,630.91, a PE ratio of 26.94, a PEG ratio of 2.61 and a beta of 1.10. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. 3M has a 52-week low of $171.09 and a 52-week high of $244.23.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be given a $0.0118 dividend. This represents a $0.05 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Wednesday, November 22nd. 3M’s dividend payout ratio (DPR) is presently 52.51%.
In related news, VP Khandpur K. Ashish sold 4,004 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total value of $926,485.56. Following the completion of the transaction, the vice president now owns 5,236 shares of the company’s stock, valued at $1,211,558.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders sold 22,804 shares of company stock valued at $5,303,706 in the last three months. Company insiders own 0.58% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of 3M during the third quarter worth approximately $3,905,000. Crestwood Advisors Group LLC increased its holdings in shares of 3M by 0.8% during the third quarter. Crestwood Advisors Group LLC now owns 74,398 shares of the conglomerate’s stock worth $15,616,000 after buying an additional 583 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of 3M during the third quarter worth approximately $957,000. Archford Capital Strategies LLC increased its holdings in shares of 3M by 125.1% during the third quarter. Archford Capital Strategies LLC now owns 3,835 shares of the conglomerate’s stock worth $805,000 after buying an additional 2,131 shares in the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of 3M during the third quarter worth approximately $1,030,000. 66.33% of the stock is owned by institutional investors.
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3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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