3M (NYSE:MMM) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• 3M (NYSE:MMM) has been given a "Buy (B-)" rating by Weiss Ratings, reflecting positive analyst confidence in the company's stock.
• Several analysts have increased their target prices for 3M, with Deutsche Bank setting a new target of $185.00 and UBS raising it to $190.00.
• Despite a recent drop in share price, 3M has a solid market capitalization of $89.50 billion and a favorable consensus rating of "Moderate Buy."

3M (NYSE:MMM - Get Free Report)'s stock had its "buy (b-)" rating restated by analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Several other equities research analysts also recently commented on MMM. Deutsche Bank Aktiengesellschaft raised their target price on 3M from $177.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Citigroup raised their target price on 3M from $160.00 to $169.00 and gave the company a "neutral" rating in a report on Thursday, October 9th. Morgan Stanley set a $160.00 target price on 3M and gave the company an "equal weight" rating in a report on Tuesday. UBS Group set a $190.00 target price on 3M in a report on Wednesday. Finally, Royal Bank Of Canada raised their target price on 3M from $120.00 to $130.00 and gave the company an "underperform" rating in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $172.67.

3M Trading Down 1.8%

Shares of 3M stock traded down $3.12 during trading hours on Friday, reaching $168.48. The stock had a trading volume of 1,506,582 shares, compared to its average volume of 3,641,100. The firm has a 50 day simple moving average of $155.61 and a two-hundred day simple moving average of $149.61. The firm has a market capitalization of $89.50 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.74 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.20 and a debt-to-equity ratio of 2.54. 3M has a 1 year low of $121.98 and a 1 year high of $172.85.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 EPS for the quarter. The company had revenue of $8.38 billion for the quarter. 3M had a return on equity of 98.47% and a net margin of 13.70%. As a group, equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Private Trust Co. NA grew its position in shares of 3M by 0.8% in the 3rd quarter. Private Trust Co. NA now owns 9,205 shares of the conglomerate's stock worth $1,428,000 after acquiring an additional 69 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. grew its position in shares of 3M by 6.0% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate's stock worth $195,000 after acquiring an additional 71 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of 3M by 0.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate's stock worth $2,576,000 after acquiring an additional 72 shares in the last quarter. TCV Trust & Wealth Management Inc. grew its position in shares of 3M by 1.1% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock worth $954,000 after acquiring an additional 73 shares in the last quarter. Finally, Cahaba Wealth Management Inc. grew its position in shares of 3M by 1.4% in the 1st quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock worth $819,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

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.

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