3M (NYSE:MMM) Rating Reiterated by Mizuho

3M (NYSE:MMM)‘s stock had its “neutral” rating restated by equities researchers at Mizuho in a report issued on Wednesday, Benzinga reports. They presently have a $105.00 price objective on the conglomerate’s stock. Mizuho’s target price suggests a potential upside of 0.75% from the stock’s previous close.

Several other research firms also recently commented on MMM. Wells Fargo & Company cut their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Citigroup decreased their price objective on shares of 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. StockNews.com began coverage on 3M in a research note on Wednesday. They set a “buy” rating on the stock. Royal Bank of Canada reiterated an “underperform” rating and issued a $84.00 price objective on shares of 3M in a research report on Wednesday, March 20th. Finally, Barclays upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $111.00 to $126.00 in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $107.60.

3M Stock Up 1.5 %

Shares of MMM traded up $1.59 during trading hours on Wednesday, reaching $104.22. The company’s stock had a trading volume of 1,865,460 shares, compared to its average volume of 5,083,011. The company has a 50 day moving average of $96.99 and a two-hundred day moving average of $97.76. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a 1-year low of $85.35 and a 1-year high of $113.14. The firm has a market cap of $57.60 billion, a price-to-earnings ratio of -8.24, a P/E/G ratio of 1.48 and a beta of 1.00.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 earnings per share. As a group, research analysts predict that 3M will post 9.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On 3M

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fragasso Group Inc. boosted its holdings in shares of 3M by 3.8% during the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock worth $239,000 after buying an additional 93 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of 3M by 1.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 7,941 shares of the conglomerate’s stock worth $1,182,000 after purchasing an additional 98 shares in the last quarter. McIlrath & Eck LLC raised its holdings in 3M by 13.3% during the fourth quarter. McIlrath & Eck LLC now owns 836 shares of the conglomerate’s stock worth $100,000 after buying an additional 98 shares during the last quarter. Vestcor Inc increased its position in shares of 3M by 0.8% during the fourth quarter. Vestcor Inc now owns 13,133 shares of the conglomerate’s stock worth $1,575,000 after acquiring an additional 102 shares in the last quarter. Finally, Bollard Group LLC lifted its position in 3M by 2.0% in the 2nd quarter. Bollard Group LLC now owns 5,191 shares of the conglomerate’s stock valued at $520,000 after acquiring an additional 103 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.