3M (NYSE:MMM) Given Consensus Recommendation of "Moderate Buy" by Brokerages

3M (NYSE:MMM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $147.00.

Several research firms have recently issued reports on MMM. Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price target on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup decreased their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Thursday, April 24th. Finally, Royal Bank of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd.

3M Stock Performance

Shares of 3M stock traded up $0.47 on Tuesday, reaching $138.85. The stock had a trading volume of 3,062,466 shares, compared to its average volume of 4,102,294. 3M has a fifty-two week low of $95.01 and a fifty-two week high of $156.35. The business's 50-day moving average price is $142.69 and its two-hundred day moving average price is $138.29. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market cap of $74.73 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last issued its quarterly 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. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, sell-side analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.10%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 36.87%.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Institutional Trading of 3M

A number of hedge funds and other institutional investors have recently modified their holdings of MMM. Financial Life Planners acquired a new stake in shares of 3M in the 4th quarter valued at $25,000. Proficio Capital Partners LLC bought a new position in 3M in the fourth quarter valued at about $26,000. REAP Financial Group LLC increased its position in 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in 3M during the 4th quarter worth about $27,000. Finally, Pinney & Scofield Inc. acquired a new position in 3M during the 4th quarter valued at about $28,000. 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.