3M (NYSE:MMM) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of 3M (NYSE:MMM - Get Free Report) in a report issued on Monday. The brokerage set a "buy" rating on the conglomerate's stock.

A number of other brokerages also recently issued reports on MMM. Mizuho reaffirmed a "neutral" rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Royal Bank of Canada lifted their price target on shares of 3M from $78.00 to $87.00 and gave the company an "underperform" rating in a research report on Wednesday, May 1st. HSBC raised shares of 3M from a "hold" rating to a "buy" rating and raised their price objective for the stock from $91.13 to $115.00 in a research note on Friday. Citigroup increased their price target on 3M from $98.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company lowered their price objective on shares of 3M from $112.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $104.30.

3M Stock Performance

Shares of NYSE MMM traded up $0.71 during midday trading on Monday, reaching $99.64. 5,578,655 shares of the stock were exchanged, compared to its average volume of 5,787,619. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. The firm has a 50-day simple moving average of $96.65 and a two-hundred day simple moving average of $98.03. 3M has a twelve month low of $71.12 and a twelve month high of $101.74. The firm has a market cap of $55.14 billion, a price-to-earnings ratio of -7.83, a PEG ratio of 1.82 and a beta of 1.00.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same quarter last year, the business posted $1.97 earnings per share. As a group, analysts anticipate that 3M will post 7.23 EPS for the current fiscal year.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tributary Capital Management LLC bought a new position in 3M during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. grew its holdings in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate's stock worth $26,000 after acquiring an additional 197 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of 3M during the first quarter worth $32,000. Briaud Financial Planning Inc acquired a new stake in shares of 3M in the 3rd quarter valued at approximately $35,000. Finally, Livelsberger Financial Advisory bought a new position in shares of 3M during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

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.

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