3M (NYSE:MMM) Receives “Hold (C)” Rating from Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of 3M (NYSE:MMM) in a research note released on Saturday morning,Weiss Ratings reports.

Several other analysts also recently issued reports on MMM. Bank of America raised their target price on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their target price on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $144.13.

3M Stock Performance

NYSE MMM traded up $1.84 on Friday, hitting $141.02. The stock had a trading volume of 5,717,193 shares, compared to its average volume of 2,528,391. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The company’s 50-day moving average is $131.24 and its two-hundred day moving average is $127.74. The stock has a market cap of $76.80 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $141.66.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the company earned $2.68 earnings per share. The firm’s quarterly revenue was down 24.3% compared to the same quarter last year. On average, analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. 3M’s payout ratio is presently 35.35%.

Hedge Funds Weigh In On 3M

Institutional investors and hedge funds have recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of 3M during the third quarter worth about $27,000. Daymark Wealth Partners LLC grew its stake in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its position in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. ORG Partners LLC boosted its holdings in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Finally, True Wealth Design LLC grew its position in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares in the last quarter. 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.