3M Co (MMM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of 3M Co (NYSE:MMM) have been given a consensus rating of “Hold” by the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $200.40.

MMM has been the topic of a number of research analyst reports. Argus lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research reiterated a “hold” rating on shares of 3M in a research note on Monday, December 31st. Morgan Stanley lowered their price objective on shares of 3M from $201.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Friday, March 22nd. Bank of America lowered shares of 3M from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Barclays decreased their price target on shares of 3M from $189.00 to $188.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd.

Shares of NYSE MMM traded down $0.24 during mid-day trading on Friday, reaching $190.48. 185,710 shares of the company traded hands, compared to its average volume of 2,270,644. 3M has a fifty-two week low of $176.87 and a fifty-two week high of $219.75. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29. The firm has a market capitalization of $126.39 billion, a PE ratio of 18.22, a P/E/G ratio of 2.05 and a beta of 1.05.

3M (NYSE:MMM) last posted its quarterly earnings data on Thursday, April 25th. The conglomerate reported $2.23 EPS for the quarter, missing the Zacks’ consensus estimate of $2.50 by ($0.27). 3M had a net margin of 16.33% and a return on equity of 57.70%. The company had revenue of $7.86 billion for the quarter, compared to analyst estimates of $8.02 billion. During the same quarter in the prior year, the business earned $2.50 EPS. 3M’s revenue was down 5.0% compared to the same quarter last year. Sell-side analysts anticipate that 3M will post 10.51 earnings per share for the current fiscal year.

In other 3M news, Chairman Inge G. Thulin sold 5,863 shares of 3M stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $207.78, for a total transaction of $1,218,214.14. Following the transaction, the chairman now directly owns 268,188 shares in the company, valued at approximately $55,724,102.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the transaction, the chairman now owns 230,458 shares in the company, valued at $46,091,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,414 shares of company stock worth $15,553,682. 0.83% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MMM. HC Financial Advisors Inc. grew its position in 3M by 49.4% during the 3rd quarter. HC Financial Advisors Inc. now owns 9,522 shares of the conglomerate’s stock worth $2,006,000 after purchasing an additional 3,147 shares in the last quarter. Man Group plc boosted its stake in shares of 3M by 1,140.8% during the 3rd quarter. Man Group plc now owns 20,349 shares of the conglomerate’s stock valued at $4,288,000 after buying an additional 18,709 shares during the period. Putnam Investments LLC boosted its stake in shares of 3M by 9.2% during the 3rd quarter. Putnam Investments LLC now owns 7,324 shares of the conglomerate’s stock valued at $1,543,000 after buying an additional 618 shares during the period. Mackenzie Financial Corp boosted its stake in shares of 3M by 13.3% during the 3rd quarter. Mackenzie Financial Corp now owns 61,370 shares of the conglomerate’s stock valued at $12,931,000 after buying an additional 7,184 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of 3M by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 408,699 shares of the conglomerate’s stock valued at $86,117,000 after buying an additional 9,249 shares during the period. Hedge funds and other institutional investors own 67.10% 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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