3M (NYSE:MMM) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• 3M's stock has been reaffirmed with a "hold (C+)" rating by Weiss Ratings, indicating a cautious outlook from analysts.
• Despite the mixed ratings, 3M has a consensus rating of "Moderate Buy" with a target price averaging $156.91, reflecting optimism among some investors.
• In its latest earnings report, 3M reported $2.16 EPS, exceeding expectations and showing a year-over-year revenue increase of 1.4%.

3M (NYSE:MMM - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Several other brokerages have also weighed in on MMM. Barclays set a $170.00 target price 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. Royal Bank Of Canada lifted their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. set a $167.00 price target on 3M in a report on Friday, July 18th. Finally, Citigroup raised their price objective on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of "Moderate Buy" and a consensus target price of $156.91.

3M Price Performance

MMM stock opened at $151.73 on Tuesday. The stock's 50 day moving average price is $149.91 and its 200 day moving average price is $146.50. The firm has a market cap of $80.82 billion, a P/E ratio of 21.10, a PEG ratio of 3.06 and a beta of 1.02. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72. 3M has a 1 year low of $119.31 and a 1 year high of $164.15.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 earnings per share. On average, sell-side analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the sale, the executive vice president owned 6,127 shares of the company's stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president owned 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Institutional Trading of 3M

Hedge funds and other institutional investors have recently bought and sold shares of the company. LaSalle St. Investment Advisors LLC lifted its position in shares of 3M by 2.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after buying an additional 71 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in 3M by 0.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate's stock worth $2,576,000 after acquiring an additional 72 shares during the last quarter. TCV Trust & Wealth Management Inc. boosted its stake in 3M by 1.1% in the first quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after acquiring an additional 73 shares during the period. Cahaba Wealth Management Inc. grew its holdings in shares of 3M by 1.4% during the first quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock valued at $819,000 after purchasing an additional 75 shares during the last quarter. Finally, Altman Advisors Inc. lifted its holdings in shares of 3M by 0.5% in the 1st quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate's stock worth $2,318,000 after purchasing an additional 76 shares during the last quarter. 65.25% of the stock is owned by 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.

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