3M Company (NYSE:MMM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• 3M Company has received a consensus rating of "Moderate Buy" from analysts, with one sell rating, two hold ratings, and seven buy ratings among ten covering firms.
• The company recently reported $2.16 earnings per share (EPS), surpassing estimates, with quarterly revenue reaching $6.16 billion, which was also above expectations.
• 3M's quarterly dividend of $0.73 reflects an annualized yield of 1.9%, with a payout ratio of 40.61% as of the last payment date in September.

3M Company (NYSE:MMM - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $161.7778.

A number of research analysts have commented on the company. Wells Fargo & Company restated an "overweight" rating on shares of 3M in a research note on Friday, July 18th. Barclays set a $170.00 price target on 3M in a research note on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 price target on shares of 3M in a research note on Friday, July 18th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, September 13th. Finally, Citigroup boosted their price target on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th.

Insiders Place Their Bets

In other news, insider Christian T. Goralski, Jr. sold 6,165 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total value of $925,859.70. Following the sale, the insider directly owned 2,900 shares in the company, valued at approximately $435,522. This trade represents a 68.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 3,477 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the sale, the chief accounting officer owned 2,561 shares in the company, valued at $385,763.43. The trade was a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 3M

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of 3M in the 1st quarter valued at $28,000. WPG Advisers LLC acquired a new position in shares of 3M in the 1st quarter valued at $28,000. GFG Capital LLC acquired a new position in shares of 3M in the 2nd quarter valued at $28,000. Curat Global LLC acquired a new position in shares of 3M in the 1st quarter valued at $29,000. Finally, Saudi Central Bank acquired a new position in shares of 3M in the 1st quarter valued at $31,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

MMM stock opened at $152.90 on Friday. The business has a fifty day moving average of $153.88 and a two-hundred day moving average of $148.36. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. The stock has a market cap of $81.44 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.81 and a beta of 1.04. 3M has a 52-week low of $121.98 and a 52-week high of $164.15.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. The company had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%.The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 earnings per share. As a group, research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 25th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, August 25th. 3M's dividend payout ratio (DPR) is presently 40.61%.

About 3M

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.

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