3M (NYSE:MMM) Stock Rating Upgraded by Melius Research

Melius Research upgraded shares of 3M (NYSE:MMM) from a hold rating to a buy rating in a report released on Tuesday, Benzinga reports. The firm currently has $180.00 price objective on the conglomerate’s stock.

A number of other analysts have also recently commented on the stock. Mizuho upped their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup upped their target price on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $133.87.

3M Price Performance

MMM opened at $131.73 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. 3M has a 12 month low of $71.12 and a 12 month high of $141.34. The company has a fifty day simple moving average of $133.03 and a 200 day simple moving average of $113.46. The stock has a market cap of $72.89 billion, a P/E ratio of -10.36, a P/E/G ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company earned $2.17 EPS. On average, research analysts expect that 3M will post 7.24 EPS for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. 3M’s dividend payout ratio is -22.01%.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 3M

A number of institutional investors have recently made changes to their positions in MMM. Global Assets Advisory LLC bought a new stake in shares of 3M during the first quarter worth approximately $1,480,000. G&S Capital LLC boosted its holdings in shares of 3M by 6.3% during the first quarter. G&S Capital LLC now owns 10,499 shares of the conglomerate’s stock worth $1,114,000 after acquiring an additional 625 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of 3M by 20.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 15,988 shares of the conglomerate’s stock worth $1,696,000 after acquiring an additional 2,741 shares during the period. Cardinal Capital Management boosted its holdings in shares of 3M by 16.8% during the first quarter. Cardinal Capital Management now owns 47,749 shares of the conglomerate’s stock worth $5,065,000 after acquiring an additional 6,867 shares during the period. Finally, Buckley Wealth Management LLC boosted its holdings in shares of 3M by 36.7% during the first quarter. Buckley Wealth Management LLC now owns 29,889 shares of the conglomerate’s stock worth $3,170,000 after acquiring an additional 8,020 shares during the period. Institutional investors own 65.25% of the company’s stock.

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.