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

Key Points

• Weiss Ratings has reiterated a "Hold (C+)" rating for 3M (NYSE:MMM), while multiple analysts have set target prices ranging from $160 to $170, reflecting cautious optimism in the stock's performance.
• 3M's shares are currently priced at $155.42, showing a 1.4% decline, with a market cap of $82.78 billion and a P/E ratio of 21.62.
• Recent insider transactions show significant sales, including Christian T. Goralski, Jr. selling 6,165 shares, indicating a 68% decrease in his holdings of the stock.

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

A number of other research analysts have also commented on MMM. Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a research report on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a research report on Friday, July 18th. Citigroup upped their price objective on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Finally, Barclays set a $170.00 price objective on shares of 3M in a research report on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $158.10.

3M Stock Performance

3M stock traded down $3.29 on Friday, reaching $150.98. 1,949,211 shares of the stock were exchanged, compared to its average volume of 3,775,149. The stock has a market cap of $80.42 billion, a PE ratio of 20.99, a PEG ratio of 3.01 and a beta of 1.04. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M has a twelve month low of $121.98 and a twelve month high of $164.15. The firm has a fifty day moving average price of $153.56 and a two-hundred day moving average price of $147.56.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business's revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. Sell-side analysts anticipate that 3M will post 7.8 EPS for the current year.

Insider Activity

In other 3M news, insider Christian T. Goralski, Jr. sold 6,165 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $150.18, for a total transaction of $925,859.70. Following the sale, the insider directly owned 2,900 shares of the company's stock, valued at approximately $435,522. This represents a 68.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 3,477 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the sale, the chief accounting officer directly owned 2,561 shares in the company, valued at $385,763.43. This represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of 3M

Several large investors have recently added to or reduced their stakes in MMM. Nuveen LLC bought a new stake in 3M during the first quarter worth about $235,020,000. Alliancebernstein L.P. lifted its position in shares of 3M by 23.1% during the first quarter. Alliancebernstein L.P. now owns 3,127,734 shares of the conglomerate's stock worth $459,339,000 after purchasing an additional 586,851 shares in the last quarter. Amundi lifted its position in shares of 3M by 20.7% during the first quarter. Amundi now owns 3,030,397 shares of the conglomerate's stock worth $423,471,000 after purchasing an additional 519,302 shares in the last quarter. J. Goldman & Co LP acquired a new position in shares of 3M during the fourth quarter worth approximately $63,471,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of 3M during the first quarter worth approximately $68,822,000. 65.25% of the stock is owned by 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.