3M (NYSE:MMM) Given Hold (C) Rating at Weiss Ratings

3M (NYSE:MMM)‘s stock had its “hold (c)” rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on the stock. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America lifted their price target on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays dropped their price objective on 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Mizuho raised their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average target price of $144.13.

3M Price Performance

Shares of NYSE MMM traded up $1.84 during trading on Friday, reaching $141.02. The company had a trading volume of 5,717,193 shares, compared to its average volume of 2,528,391. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The stock has a market cap of $76.80 billion, a PE ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. The business’s 50 day moving average price is $131.24 and its 200-day moving average price is $127.74. 3M has a 52 week low of $75.40 and a 52 week high of $141.66.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s revenue was down 24.3% on a year-over-year basis. During the same period last year, the company earned $2.68 EPS. Analysts expect that 3M will post 7.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FSA Wealth Management LLC bought a new position in 3M in the 3rd quarter worth $27,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the period. ORG Partners LLC raised its position in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. 65.25% of the stock is currently owned by institutional investors.

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.