3M (NYSE:MMM) Given "Hold (C+)" Rating at Weiss Ratings

Weiss Ratings reissued their hold (c+) rating on shares of 3M (NYSE:MMM - Free Report) in a research note published on Thursday,Weiss Ratings reports.

MMM has been the subject of a number of other reports. Citigroup dropped their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Barclays lifted their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada lifted their price objective on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

3M Price Performance

Shares of NYSE MMM traded up $0.56 during trading on Thursday, hitting $137.88. The company had a trading volume of 2,499,850 shares, compared to its average volume of 4,169,132. The stock has a fifty day simple moving average of $142.90 and a two-hundred day simple moving average of $138.29. 3M has a fifty-two week low of $91.56 and a fifty-two week high of $156.35. The firm has a market capitalization of $74.20 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. On average, research analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio is currently 36.87%.

Insider Transactions at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael F. Roman sold 49,598 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the sale, the chairman now directly owns 180,895 shares of the company's stock, valued at $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Institutional Trading of 3M

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tudor Financial Inc. purchased a new position in 3M in the 3rd quarter valued at $259,000. World Investment Advisors LLC grew its position in 3M by 22.4% in the 3rd quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate's stock valued at $1,609,000 after buying an additional 2,155 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in 3M by 255.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate's stock valued at $10,796,000 after buying an additional 56,734 shares during the last quarter. Tidal Investments LLC grew its position in 3M by 44.7% in the 3rd quarter. Tidal Investments LLC now owns 72,733 shares of the conglomerate's stock valued at $9,943,000 after buying an additional 22,461 shares during the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in 3M by 0.7% in the third quarter. Peapack Gladstone Financial Corp now owns 116,993 shares of the conglomerate's stock valued at $15,993,000 after acquiring an additional 830 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

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.