Weiss Ratings Reaffirms "Hold (C+)" Rating for 3M (NYSE:MMM)

Weiss Ratings reiterated their hold (c+) rating on shares of 3M (NYSE:MMM - Free Report) in a research report report published on Saturday morning,Weiss Ratings reports.

Other analysts also recently issued reports about the company. 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 report on Wednesday, April 23rd. Barclays upped their price objective on 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Citigroup raised their price target on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Wells Fargo & Company raised their price target on 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $156.33.

3M Price Performance

MMM stock traded up $2.23 on Friday, reaching $158.07. 2,961,002 shares of the company's stock were exchanged, compared to its average volume of 3,822,570. The stock has a fifty day moving average of $148.22 and a 200-day moving average of $144.69. 3M has a twelve month low of $100.87 and a twelve month high of $159.47. The firm has a market cap of $85.07 billion, a PE ratio of 19.96, a P/E/G ratio of 3.04 and a beta of 1.02. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. As a group, equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.85%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Insider Activity at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 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 document filed with the SEC, which is available through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's 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 owned 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 disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. LaSalle St. Investment Advisors LLC boosted 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 period. Farmers & Merchants Investments Inc. raised its position in 3M by 0.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate's stock valued at $2,576,000 after buying an additional 72 shares during the period. TCV Trust & Wealth Management Inc. raised its position in 3M by 1.1% during the first quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after buying an additional 73 shares during the period. Cahaba Wealth Management Inc. increased its position in 3M by 1.4% in the 1st quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock worth $819,000 after purchasing an additional 75 shares during the last quarter. Finally, Altman Advisors Inc. increased its position in 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. Institutional investors and hedge funds 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.