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

3M (NYSE:MMM - Get Free Report)'s stock had its "hold (c+)" rating reissued by analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other brokerages have also weighed in on MMM. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Citigroup dropped their price target 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. decreased their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada boosted their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Finally, Bank of America increased their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.29.

3M Stock Performance

Shares of NYSE:MMM opened at $142.25 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a market cap of $76.56 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 3M has a 12 month low of $96.76 and a 12 month high of $156.35. The company has a 50-day moving average price of $141.31 and a 200-day moving average price of $138.61.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, equities analysts anticipate that 3M will post 7.8 EPS for the current year.

Institutional Investors Weigh In On 3M

Institutional investors have recently modified their holdings of the business. ORG Partners LLC raised its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after buying an additional 98 shares during the last quarter. Czech National Bank increased its position in 3M by 5.5% during the fourth quarter. Czech National Bank now owns 118,072 shares of the conglomerate's stock valued at $15,242,000 after acquiring an additional 6,163 shares during the last quarter. Aprio Wealth Management LLC increased its position in 3M by 19.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,195 shares of the conglomerate's stock valued at $412,000 after acquiring an additional 513 shares during the last quarter. Matrix Trust Co boosted its position in 3M by 602.9% in the fourth quarter. Matrix Trust Co now owns 738 shares of the conglomerate's stock worth $95,000 after purchasing an additional 633 shares during the last quarter. Finally, Clark & Stuart Inc bought a new stake in shares of 3M during the 4th quarter valued at about $9,553,000. 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.

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