Analysts Set 3M (NYSE:MMM) Price Target at $198.92

Shares of 3M (NYSE:MMM) have earned an average rating of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $198.92.

MMM has been the topic of a number of recent research reports. Argus raised their price objective on shares of 3M from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $208.00 price objective on the stock in a report on Friday, August 6th. Wolfe Research lowered shares of 3M from a “peer perform” rating to an “underperform” rating and dropped their price objective for the stock from $218.00 to $215.00 in a report on Monday, July 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of 3M from $196.00 to $201.00 and gave the stock a “hold” rating in a report on Wednesday, July 28th. Finally, Credit Suisse Group lowered shares of 3M from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $210.00 to $212.00 in a research note on Tuesday, July 6th.

NYSE:MMM opened at $182.42 on Friday. 3M has a 12-month low of $156.13 and a 12-month high of $208.95. The company has a quick ratio of 1.22, a current ratio of 1.73 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $105.56 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The firm has a 50-day moving average price of $196.65 and a 200 day moving average price of $196.42.

3M (NYSE:MMM) last posted its quarterly earnings results on Monday, July 26th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.31. 3M had a net margin of 17.13% and a return on equity of 44.72%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.59 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, research analysts expect that 3M will post 10.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 12th. Shareholders of record on Monday, August 23rd were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, August 20th. 3M’s dividend payout ratio is currently 67.73%.

In other 3M news, insider Khandpur K. Ashish sold 6,505 shares of the business’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $196.86, for a total value of $1,280,574.30. Following the completion of the sale, the insider now owns 26,855 shares of the company’s stock, valued at approximately $5,286,675.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey R. Lavers sold 6,025 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $200.00, for a total transaction of $1,205,000.00. Following the sale, the insider now directly owns 10,973 shares of the company’s stock, valued at approximately $2,194,600. The disclosure for this sale can be found here. Insiders sold a total of 20,666 shares of company stock valued at $4,103,569 in the last three months. Insiders own 0.34% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Lion Street Advisors LLC acquired a new position in 3M in the 2nd quarter valued at approximately $26,000. Goodwin Investment Advisory bought a new stake in shares of 3M in the 1st quarter valued at $33,000. Newton One Investments LLC bought a new stake in shares of 3M in the 2nd quarter valued at $37,000. Anfield Capital Management LLC bought a new stake in shares of 3M in the 2nd quarter valued at $37,000. Finally, Lake Point Wealth Management bought a new stake in shares of 3M in the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

3M Company Profile

3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Analyst Recommendations for 3M (NYSE:MMM)

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