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

Key Points

• 3M's stock has a "hold (C+)" rating from Weiss Ratings, with several brokerages setting target prices ranging from $160 to $170.
• The company reported an EPS of $2.16 for the last quarter, exceeding consensus estimates of $2.01, alongside a year-over-year revenue increase of 1.4%.
• Institutional investors own approximately 65.25% of 3M's stock, reflecting strong interest and confidence in the company.

3M (NYSE:MMM - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities researchers at Weiss Ratings in a report released on Saturday, September 13th,Weiss Ratings reports.

MMM has been the topic of several other research reports. Citigroup lifted their target price on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 price objective on 3M in a research report on Friday, July 18th. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a research report on Friday, July 18th. Finally, Barclays set a $170.00 price objective on 3M in a research report on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and an average price target of $161.78.

3M Stock Up 0.7%

Shares of NYSE:MMM traded up $1.15 during mid-day trading on Friday, hitting $156.55. 6,507,071 shares of the company traded hands, compared to its average volume of 2,507,655. The stock has a market cap of $83.38 billion, a P/E ratio of 21.77, a P/E/G ratio of 2.82 and a beta of 1.04. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M has a 12-month low of $121.98 and a 12-month high of $164.15. The stock has a 50-day moving average price of $154.16 and a two-hundred day moving average price of $148.16.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.15. The company had revenue of $6.16 billion for 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%.3M's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.93 earnings per share. On average, equities research analysts forecast that 3M will post 7.8 earnings per share for the current year.

Insider Transactions at 3M

In other 3M news, CAO Theresa E. Reinseth sold 3,477 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total value of $523,740.51. Following the transaction, the chief accounting officer directly owned 2,561 shares in the company, valued at $385,763.43. This represents a 57.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the company's stock in a transaction dated 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 $435,522. This represents a 68.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 3M

Hedge funds and other institutional investors have recently modified their holdings of the company. Farmers & Merchants Investments Inc. grew its holdings in 3M by 0.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate's stock valued at $2,576,000 after buying an additional 72 shares in the last quarter. TCV Trust & Wealth Management Inc. grew its holdings in 3M by 1.1% during the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after buying an additional 73 shares in the last quarter. Cahaba Wealth Management Inc. grew its holdings in 3M by 1.4% during the 1st quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock valued at $819,000 after buying an additional 75 shares in the last quarter. Altman Advisors Inc. grew its holdings in 3M by 0.5% during the 1st quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate's stock valued at $2,318,000 after buying an additional 76 shares in the last quarter. Finally, NBT Bank N A NY grew its holdings in shares of 3M by 0.8% during the first quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock worth $1,431,000 after purchasing an additional 79 shares in the last quarter. 65.25% of the stock is currently 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.