3M (NYSE:MMM) Given New $186.00 Price Target at Wolfe Research

3M (NYSE:MMM) had its target price lowered by stock analysts at Wolfe Research from $205.00 to $186.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the conglomerate’s stock. Wolfe Research’s price objective suggests a potential upside of 24.64% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 4th. Jefferies Financial Group reduced their price target on 3M from $180.00 to $160.00 and set a “hold” rating for the company in a research report on Monday, March 30th. UBS Group reaffirmed a “buy” rating on shares of 3M in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft raised their price objective on 3M from $179.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. Finally, Mizuho set a $160.00 price objective on 3M in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, 3M has a consensus rating of “Hold” and a consensus price target of $169.91.

3M Stock Up 3.4%

MMM traded up $4.88 during trading on Wednesday, hitting $149.23. The company had a trading volume of 374,106 shares, compared to its average volume of 4,044,630. The company has a market capitalization of $77.96 billion, a PE ratio of 24.81, a PEG ratio of 2.10 and a beta of 1.09. 3M has a one year low of $123.44 and a one year high of $177.41. The firm’s 50-day moving average price is $156.44 and its 200 day moving average price is $160.61. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 2.30.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 20th. The conglomerate reported $1.83 EPS for the quarter, beating the consensus estimate of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the firm posted $1.68 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, equities analysts expect that 3M will post 7.8 earnings per share for the current year.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the sale, the chief accounting officer owned 2,585 shares of the company’s stock, valued at approximately $446,558.75. This represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

A number of institutional investors and hedge funds have recently made changes to their positions in MMM. Brighton Jones LLC lifted its stake in shares of 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after buying an additional 1,872 shares in the last quarter. Bison Wealth LLC boosted its holdings in shares of 3M by 10.2% in the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after purchasing an additional 255 shares in the last quarter. BNP Paribas boosted its holdings in shares of 3M by 98.0% in the 2nd quarter. BNP Paribas now owns 4,040 shares of the conglomerate’s stock worth $614,000 after purchasing an additional 2,000 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of 3M by 11.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate’s stock worth $3,289,000 after purchasing an additional 2,203 shares in the last quarter. Finally, WFA of San Diego LLC purchased a new position in shares of 3M in the 2nd quarter worth about $61,000. Institutional investors 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).