3M Company (NYSE:MMM) Receives Consensus Rating of “Hold” from Brokerages

3M Company (NYSE:MMM) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $170.00.

Several research analysts recently commented on the stock. Wolfe Research decreased their target price on shares of 3M from $205.00 to $186.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Sanford C. Bernstein started coverage on shares of 3M in a research report on Tuesday, June 9th. They set an “underperform” rating and a $131.00 price target for the company. Citigroup cut their price target on shares of 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Finally, Barclays dropped their target price on shares of 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st.

3M Trading Up 0.4%

Shares of MMM stock opened at $160.58 on Friday. The business has a 50-day moving average of $153.19 and a 200 day moving average of $156.37. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.59 and a quick ratio of 1.19. 3M has a 1-year low of $139.34 and a 1-year high of $177.41. The stock has a market capitalization of $83.75 billion, a PE ratio of 30.94, a P/E/G ratio of 2.25 and a beta of 1.02.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. 3M had a return on equity of 104.75% and a net margin of 11.14%.The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the previous year, the firm earned $1.88 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, sell-side analysts anticipate that 3M will post 8.73 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $3.12 dividend on an annualized basis and a yield of 1.9%. 3M’s dividend payout ratio is presently 60.12%.

Hedge Funds Weigh In On 3M

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after acquiring an additional 2,055,419 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in 3M during the 4th quarter valued at $65,009,000. Handelsbanken Fonder AB increased its position in 3M by 1.5% during the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock valued at $43,511,000 after purchasing an additional 4,101 shares during the period. Captrust Financial Advisors raised its holdings in 3M by 2.9% in the 4th quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock worth $25,084,000 after purchasing an additional 4,372 shares in the last quarter. Finally, Willis Investment Counsel lifted its position in shares of 3M by 1.5% in the 4th quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock worth $21,796,000 after purchasing an additional 2,077 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).