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

Weiss Ratings reaffirmed their hold (c+) rating on shares of 3M (NYSE:MMM - Free Report) in a report released on Saturday, May 24th,Weiss Ratings reports.

Several other equities research analysts have also commented on MMM. Citigroup lowered their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. increased their target price on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Barclays increased their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada increased their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $153.46.

3M Stock Performance

3M stock traded down $1.43 during mid-day trading on Friday, hitting $148.20. The company had a trading volume of 5,339,771 shares, compared to its average volume of 3,893,398. 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 has a 12-month low of $97.68 and a 12-month high of $156.35. The company's fifty day moving average is $141.33 and its 200-day moving average is $140.75. The company has a market capitalization of $79.76 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. Equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.97%. 3M's dividend payout ratio is currently 36.87%.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $1,151,202.83. Following the transaction, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of 3M during the 1st quarter worth $28,000. WPG Advisers LLC purchased a new position in shares of 3M during the 1st quarter worth $28,000. Financial Life Planners purchased a new position in shares of 3M during the 4th quarter worth $25,000. REAP Financial Group LLC raised 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 worth $26,000 after acquiring an additional 94 shares during the period. Finally, Curat Global LLC purchased a new position in shares of 3M during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

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.