3M’s (MMM) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of 3M (NYSE:MMM) in a report issued on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has a $182.00 target price on the conglomerate’s stock.

MMM has been the topic of a number of other reports. Royal Bank Of Canada reiterated an “underperform” rating and issued a $131.00 target price on shares of 3M in a report on Thursday. Wolfe Research dropped their price target on 3M from $197.00 to $196.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays increased their price objective on 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Wells Fargo & Company lifted their target price on 3M from $176.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded 3M from a “buy” rating to a “hold” rating and reduced their target price for the company from $199.00 to $178.00 in a report on Monday, December 8th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $175.80.

3M Trading Down 1.8%

Shares of 3M stock opened at $168.05 on Friday. The business has a fifty day simple moving average of $166.11 and a 200-day simple moving average of $159.51. 3M has a fifty-two week low of $121.98 and a fifty-two week high of $174.69. The firm has a market cap of $89.27 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.35 and a beta of 1.09. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 2.54.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 21st. The conglomerate reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.12. 3M had a return on equity of 98.47% and a net margin of 13.70%.The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the company earned $1.98 earnings per share. 3M’s revenue was up 3.3% compared to the same quarter last year. 3M has set its FY 2025 guidance at 7.950-8.05 EPS. On average, equities analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, November 14th. 3M’s payout ratio is presently 46.65%.

Insider Activity

In related news, EVP Mark W. Murphy sold 19,061 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total value of $3,174,609.55. Following the completion of the sale, the executive vice president directly owned 6,594 shares of the company’s stock, valued at approximately $1,098,230.70. This represents a 74.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Zoe L. Dickson sold 13,826 shares of 3M stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $169.78, for a total value of $2,347,378.28. Following the transaction, the executive vice president directly owned 6,162 shares in the company, valued at approximately $1,046,184.36. This trade represents a 69.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 46,516 shares of company stock valued at $7,836,465. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GFG Capital LLC acquired a new stake in shares of 3M during the 2nd quarter valued at $28,000. J.Safra Asset Management Corp purchased a new stake in shares of 3M during the third quarter worth $34,000. Westside Investment Management Inc. boosted its position in 3M by 77.4% during the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 106 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in 3M during the third quarter valued at $50,000. Finally, Collier Financial purchased a new position in 3M in the third quarter valued at about $52,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

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).