3M (NYSE:MMM) Hits New 52-Week High - Should You Buy?

Key Points

• 3M shares reached a new 52-week high of $178.49, trading near $178.15 and above both its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: eight analysts rate the stock Buy, five Hold, and two Sell, resulting in a consensus Hold rating and an average price target of $177.21.
• Recent quarterly results exceeded expectations, with adjusted earnings of $2.40 per share and revenue of $6.50 billion. 3M also pays a quarterly dividend of $0.78, representing a 1.8% yield.

Shares of 3M Company (NYSE:MMM - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $178.49 and last traded at $178.15, with a volume of 987366 shares. The stock had previously closed at $172.62.

Analyst Ratings Changes

MMM has been the subject of several research reports. Barclays cut their price target on 3M from $190.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Wolfe Research reissued an "outperform" rating on shares of 3M in a research report on Thursday, July 9th. Royal Bank Of Canada raised their target price on shares of 3M from $123.00 to $132.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 22nd. HSBC lifted their target price on shares of 3M from $175.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of 3M from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $177.21.

3M Stock Performance

The stock's 50-day simple moving average is $158.49 and its 200-day simple moving average is $156.37. The stock has a market cap of $91.37 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 2.38 and a beta of 1.02. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.15. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The firm's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Analysts forecast that 3M Company will post 8.91 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $3.12 annualized dividend and a yield of 1.8%. 3M's payout ratio is currently 55.42%.

Institutional Trading of 3M

Several large investors have recently modified their holdings of the stock. Brighton Jones LLC raised its stake in 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 1,872 shares in the last quarter. Bison Wealth LLC increased its holdings in 3M by 10.2% in the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate's stock valued at $355,000 after buying an additional 255 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in 3M by 11.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate's stock valued at $3,289,000 after buying an additional 2,203 shares during the period. WFA of San Diego LLC bought a new stake in shares of 3M during the 2nd quarter worth approximately $61,000. Finally, Morse Asset Management Inc lifted its holdings in shares of 3M by 1.8% during the 2nd quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate's stock worth $1,568,000 after acquiring an additional 185 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M's businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).

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