3M (NYSE:MMM) Upgraded to “Hold” at Wells Fargo & Company

3M (NYSE:MMM) was upgraded by analysts at Wells Fargo & Company to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

Other equities analysts have also issued research reports about the company. Citigroup boosted their price objective on 3M from $166.00 to $183.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $192.00 price target on shares of 3M in a report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price target on shares of 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Finally, UBS Group upped their price objective on shares of 3M from $190.00 to $218.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $181.21.

3M Trading Up 1.1%

MMM opened at $169.37 on Thursday. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. The company’s 50 day simple moving average is $173.63 and its two-hundred day simple moving average is $159.60. 3M has a 1-year low of $139.34 and a 1-year high of $184.90. The firm has a market capitalization of $87.35 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.21 and a beta of 1.01.

3M (NYSE:MMM) last issued its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Analysts expect that 3M will post 8.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Karin Chavez sold 3,635 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider owned 14,035 shares of the company’s stock, valued at $2,561,527.85. This represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in 3M by 6.8% during the 2nd quarter. QRG Capital Management Inc. now owns 74,039 shares of the conglomerate’s stock valued at $11,988,000 after acquiring an additional 4,738 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in 3M by 18.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 34,029 shares of the conglomerate’s stock worth $5,510,000 after purchasing an additional 5,256 shares during the period. State Street Corp lifted its position in shares of 3M by 0.4% during the second quarter. State Street Corp now owns 27,828,966 shares of the conglomerate’s stock worth $4,505,788,000 after purchasing an additional 105,222 shares in the last quarter. MAC Alpha Capital Management LP purchased a new position in shares of 3M in the second quarter valued at approximately $353,000. Finally, Security National Bank of SO Dak purchased a new position in shares of 3M in the second quarter valued at approximately $32,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Company Profile

3M Company is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it initially supplied abrasives and other materials before expanding into a broad range of science-based products and technologies.

The company develops products for industrial, transportation, electronics, safety and consumer markets. Its offerings include personal protective equipment, industrial adhesives and tapes, abrasives, filtration products, electrical materials, automotive solutions, medical and dental products, and consumer brands such as Post-it Notes and Scotch products.