Brokerages Set 3M (NYSE:MMM) Price Target at $139.27

3M (NYSE:MMM) has been given an average rating of “Moderate Buy” by the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $139.27.

Several research firms have recently weighed in on MMM. Morgan Stanley assumed coverage on 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price objective for the company. Mizuho upped their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 23rd. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, Barclays raised their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd.

3M Stock Down 0.6 %

Shares of NYSE:MMM opened at $133.07 on Tuesday. 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 52 week low of $75.40 and a 52 week high of $141.34. The company has a 50 day moving average price of $132.83 and a two-hundred day moving average price of $116.09. The company has a market capitalization of $72.46 billion, a PE ratio of 16.80, a PEG ratio of 2.03 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. 3M’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. Analysts forecast that 3M will post 7.28 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.10%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Hedge Funds Weigh In On 3M

Institutional investors have recently bought and sold shares of the business. Ballentine Partners LLC boosted its stake in shares of 3M by 40.1% during 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 period. Stonegate Investment Group LLC lifted its holdings in 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Ausdal Financial Partners Inc. lifted its holdings 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. Candriam S.C.A. boosted its position in 3M by 19.2% during the second quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock worth $3,931,000 after purchasing an additional 6,185 shares during the period. Finally, True Vision MN LLC acquired a new position in shares of 3M in the second quarter valued at $512,000. Institutional investors and hedge funds 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.