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

Weiss Ratings reiterated their hold (c+) rating on shares of 3M (NYSE:MMM - Free Report) in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts also recently weighed in on MMM. JPMorgan Chase & Co. increased their price target on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Barclays raised their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Citigroup boosted their target price on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and an average target price of $155.83.

3M Price Performance

MMM stock traded down $2.60 during midday trading on Wednesday, reaching $142.17. The company had a trading volume of 2,450,353 shares, compared to its average volume of 3,848,483. The company has a market capitalization of $76.51 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. The stock has a 50 day moving average price of $142.25 and a 200-day moving average price of $141.84. 3M has a 1-year low of $98.26 and a 1-year high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 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 firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. Equities research analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.05%. 3M's payout ratio is 36.87%.

Insiders Place Their Bets

In other news, EVP Zoe L. Dickson sold 7,915 shares of 3M 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 now directly owns 6,127 shares in the company, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Trading of 3M

Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC acquired a new position in shares of 3M during the 4th quarter valued at $26,000. REAP Financial Group LLC lifted its holdings in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M during the 4th quarter valued at $27,000. Pinney & Scofield Inc. acquired a new position in shares of 3M during the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of 3M during the 1st quarter valued at $28,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

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.