3M (NYSE:MMM) Stock Rating Upgraded by Sanford C. Bernstein

3M (NYSE:MMM) was upgraded by equities researchers at Sanford C. Bernstein to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on MMM. Wolfe Research dropped their price objective on 3M from $205.00 to $186.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Barclays lowered their target price on 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Royal Bank Of Canada lowered their target price on 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group lifted their target price on 3M from $160.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings cut 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, 3M currently has a consensus rating of “Hold” and a consensus target price of $168.08.

3M Price Performance

Shares of NYSE:MMM opened at $156.94 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. The stock’s fifty day simple moving average is $149.07 and its two-hundred day simple moving average is $157.23. 3M has a 1-year low of $139.34 and a 1-year high of $177.41. The stock has a market cap of $81.85 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.26 and a beta of 1.03.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned $1.88 EPS. The business’s 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, analysts forecast that 3M will post 8.7 EPS for the current fiscal year.

Institutional Investors Weigh In On 3M

Several large investors have recently added to or reduced their stakes in MMM. SG Americas Securities LLC increased its holdings in 3M by 653.6% in the 1st 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 last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in 3M in the 4th quarter worth about $65,009,000. Entropy Technologies LP purchased a new stake in 3M in the 1st quarter worth about $10,945,000. Align Financial LLC purchased a new position in 3M during the 4th quarter valued at about $4,101,000. Finally, Allstate Corp grew its holdings in 3M by 107.1% during the 4th quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock valued at $6,598,000 after buying an additional 21,316 shares in the last quarter. Hedge funds and other 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).