Analysts Set 3M (NYSE:MMM) PT at $144.13

3M (NYSE:MMM) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $148.87.

A number of research firms have recently weighed in on MMM. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Barclays increased their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday.

Hedge Funds Weigh In On 3M

A number of institutional investors and hedge funds have recently modified their holdings of the business. FSA Wealth Management LLC bought a new position in 3M during the third quarter worth $27,000. Daymark Wealth Partners LLC boosted its position in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its stake in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. ORG Partners LLC raised its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. Finally, True Wealth Design LLC boosted its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

Shares of 3M stock opened at $149.64 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $81.49 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. The company has a 50 day moving average of $132.09 and a 200-day moving average of $128.67. 3M has a 1-year low of $75.40 and a 1-year high of $152.08.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 97.19% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. During the same quarter last year, the business posted $2.42 EPS. The company’s revenue was down 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that 3M will post 7.66 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.87%. 3M’s payout ratio is currently 37.09%.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.