3M (NYSE:MMM) Given New $152.00 Price Target at Citigroup

3M (NYSE:MMM) had its target price upped by Citigroup from $142.00 to $152.00 in a research report released on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the conglomerate’s stock.

MMM has been the subject of a number of other reports. Wells Fargo & Company boosted their price target on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and raised their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 1.5 %

3M stock opened at $149.14 on Wednesday. The firm has a market capitalization of $81.21 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. 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 has a fifty-two week low of $75.40 and a fifty-two week high of $152.08. The stock’s fifty day moving average is $131.73 and its two-hundred day moving average is $128.53.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. Analysts predict that 3M will post 7.28 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 35.35%.

Institutional Trading of 3M

A number of institutional investors have recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new position in shares of 3M during the third quarter worth about $27,000. McClarren Financial Advisors Inc. raised 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 valued at $30,000 after buying an additional 121 shares during the period. True Wealth Design LLC lifted its position in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. ORG Partners LLC boosted its holdings in 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 during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in 3M in the third quarter valued at approximately $57,000. 65.25% of the stock is owned by hedge funds and other 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.