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.
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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