3M Company (MMM) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is mixed: Sixteen firms give 3M an average “Hold” rating, with eight holds, six buys, one strong buy and one sell. The average 12-month price target is $185.36.
• 3M exceeded earnings expectations: Quarterly EPS was $2.50 versus the $2.38 consensus estimate, while revenue rose 1.5% year over year to $6.60 billion, slightly below estimates.
• Institutional ownership remains strong: Institutional investors and hedge funds own 65.25% of the stock, while an insider recently sold 3,635 shares. 3M’s quarterly dividend is $0.78 per share, representing an annualized yield of approximately 1.8%.

3M Company (NYSE:MMM - Get Free Report) has been given an average rating of "Hold" by the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $185.36.

Several research firms recently issued reports on MMM. Citigroup raised their price objective on shares of 3M from $183.00 to $188.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 21st. The Goldman Sachs Group reiterated a "buy" rating on shares of 3M in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of 3M in a research note on Wednesday, October 21st. Wolfe Research restated an "outperform" rating on shares of 3M in a report on Thursday, July 9th. Finally, Sanford C. Bernstein lifted their price target on shares of 3M from $171.00 to $197.00 and gave the company a "market perform" rating in a research report on Wednesday, October 21st.

Insider Buying and Selling

In other news, insider Karin Chavez sold 3,635 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider owned 14,035 shares of the company's stock, valued at $2,561,527.85. This represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of 3M

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in shares of 3M by 0.4% during the 2nd quarter. State Street Corp now owns 27,828,966 shares of the conglomerate's stock worth $4,505,788,000 after acquiring an additional 105,222 shares in the last quarter. Amundi increased its holdings in shares of 3M by 67.0% in the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate's stock valued at $734,448,000 after acquiring an additional 1,819,178 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 3M by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate's stock valued at $637,202,000 after buying an additional 270,458 shares during the last quarter. National Pension Service raised its holdings in shares of 3M by 3.6% in the second quarter. National Pension Service now owns 1,401,543 shares of the conglomerate's stock valued at $226,924,000 after buying an additional 48,167 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of 3M by 1.2% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 376,784 shares of the conglomerate's stock worth $61,849,000 after buying an additional 4,628 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Down 1.7%

MMM opened at $174.32 on Friday. The firm has a market capitalization of $90.08 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 2.31 and a beta of 0.99. The company's 50 day simple moving average is $168.45 and its two-hundred day simple moving average is $161.35. 3M has a 1-year low of $139.34 and a 1-year high of $184.90. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.41 and a quick ratio of 1.06.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.12. 3M had a return on equity of 123.11% and a net margin of 14.01%. The business had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same period in the prior year, the business earned $2.19 earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. Analysts expect that 3M will post 9.14 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 24th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.8%. 3M's dividend payout ratio (DPR) is 46.50%.

About 3M

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.