3M (NYSE:MMM) Receives $144.87 Average PT from Brokerages

3M (NYSE:MMM) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat reports. Two 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. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $144.87.

MMM has been the topic of a number of research reports. Bank of America raised their target price on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd.

3M Stock Down 0.8 %

Shares of NYSE MMM opened at $130.18 on Wednesday. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The firm has a market capitalization of $70.89 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.15 and a beta of 0.95. The stock has a 50 day moving average price of $130.10 and a 200 day moving average price of $124.58. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

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

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Institutional Trading of 3M

A number of institutional investors have recently bought and sold shares of MMM. D.A. Davidson & CO. raised its holdings in shares of 3M by 16.2% in the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after buying an additional 20,421 shares during the last quarter. Franklin Resources Inc. increased its position in shares of 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after acquiring an additional 178,450 shares during the period. Ballentine Partners LLC raised its stake in 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after acquiring an additional 5,210 shares during the last quarter. Stonegate Investment Group LLC lifted its position in 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after acquiring an additional 13,473 shares during the period. Finally, Ausdal Financial Partners Inc. grew its stake in 3M by 6.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock valued at $408,000 after purchasing an additional 249 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.