3M Co (MMM) Receives $211.17 Average Price Target from Brokerages

Shares of 3M Co (NYSE:MMM) have received an average recommendation of “Hold” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $205.58.

A number of research analysts recently issued reports on MMM shares. restated a “sell” rating on shares of 3M in a report on Tuesday, February 12th. Barclays reduced their price target on 3M from $190.00 to $189.00 and set an “underweight” rating on the stock in a report on Thursday, January 3rd. Credit Suisse Group restated an “outperform” rating and set a $220.00 price target (down previously from $230.00) on shares of 3M in a report on Thursday, January 3rd. Royal Bank of Canada restated a “buy” rating and set a $213.00 price target on shares of 3M in a report on Wednesday, December 19th. Finally, JPMorgan Chase & Co. reduced their price target on 3M from $158.00 to $154.00 and set an “underweight” rating on the stock in a report on Friday.

Shares of NYSE:MMM opened at $207.78 on Wednesday. 3M has a 1 year low of $176.87 and a 1 year high of $221.69. The stock has a market cap of $120.07 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. The company has a current ratio of 1.89, a quick ratio of 1.29 and a debt-to-equity ratio of 1.36.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.03. 3M had a return on equity of 57.70% and a net margin of 16.33%. The company had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $7.87 billion. During the same quarter in the previous year, the business earned $2.10 EPS. 3M’s revenue was down .6% compared to the same quarter last year. On average, analysts expect that 3M will post 10.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 15th were paid a $1.44 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $5.76 annualized dividend and a dividend yield of 2.77%. This is an increase from 3M’s previous quarterly dividend of $1.36. 3M’s dividend payout ratio is presently 55.07%.

In related news, CFO Nicholas C. Gangestad sold 4,681 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $201.34, for a total value of $942,472.54. Following the sale, the chief financial officer now owns 33,691 shares in the company, valued at approximately $6,783,345.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul A. Keel sold 9,410 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $199.14, for a total value of $1,873,907.40. Following the completion of the sale, the insider now owns 23,009 shares in the company, valued at approximately $4,582,012.26. The disclosure for this sale can be found here. Insiders sold a total of 71,551 shares of company stock worth $14,335,468 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of MMM. Oregon Public Employees Retirement Fund grew its stake in shares of 3M by 17,350.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock worth $141,000 after buying an additional 26,742,875 shares during the last quarter. Norges Bank purchased a new stake in shares of 3M in the 4th quarter worth approximately $918,305,000. BlackRock Inc. grew its stake in shares of 3M by 3.0% in the 4th quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock worth $7,435,433,000 after buying an additional 1,152,714 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of 3M by 14,237.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 939,688 shares of the conglomerate’s stock worth $8,941,033,000 after buying an additional 933,134 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of 3M by 2,768.8% in the 4th quarter. Bessemer Group Inc. now owns 578,657 shares of the conglomerate’s stock worth $110,258,000 after buying an additional 558,486 shares during the last quarter. Institutional investors own 67.15% of the company’s stock.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Analyst Recommendations for 3M (NYSE:MMM)

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