3M (NYSE:MMM) Receives $152.08 Consensus PT from Brokerages

Shares of 3M (NYSE:MMM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $152.08.

A number of research analysts have issued reports on the company. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday. Royal Bank of Canada upped their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Bank of America upped their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd.

Insider Transactions at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the sale, the executive vice president now owns 31,372 shares of the company's stock, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president now directly owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. 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

Several institutional investors have recently modified their holdings of MMM. Investors Asset Management of Georgia Inc. GA ADV grew its position in 3M by 1.3% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after acquiring an additional 67 shares during the last quarter. Parkside Financial Bank & Trust grew its position in 3M by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after acquiring an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its position in 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after acquiring an additional 71 shares during the last quarter. Gilbert & Cook Inc. grew its position in 3M by 1.5% during the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after acquiring an additional 73 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. grew its position in 3M by 1.1% during 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 during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Stock Down 0.4%

3M stock traded down $0.57 during trading on Friday, hitting $148.92. 1,012,197 shares of the company were exchanged, compared to its average volume of 3,966,963. The business's 50 day moving average is $141.54 and its 200 day moving average is $140.39. 3M has a 52 week low of $96.76 and a 52 week high of $156.35. The company has a market capitalization of $80.14 billion, a P/E ratio of 19.72, a PEG ratio of 3.30 and a beta of 1.02. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. 3M's payout ratio is 36.87%.

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.