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

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

Several other brokerages also recently weighed in on MMM. Bank of America increased their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Mizuho boosted their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Citigroup lifted their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Down 1.4 %

NYSE:MMM opened at $150.13 on Friday. The company’s 50 day moving average is $135.21 and its two-hundred day moving average is $131.26. The company has a market cap of $81.76 billion, a PE ratio of 19.89, a P/E/G ratio of 3.37 and a beta of 0.96. 3M has a twelve month low of $75.40 and a twelve month high of $155.00. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. Analysts anticipate that 3M will post 7.8 EPS for the current year.

Insider Activity

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 3M

A number of large investors have recently modified their holdings of the business. Czech National Bank lifted its stake in 3M by 6.1% in the 3rd quarter. Czech National Bank now owns 111,909 shares of the conglomerate’s stock worth $15,298,000 after purchasing an additional 6,461 shares in the last quarter. Park Avenue Securities LLC lifted its position in 3M by 14.8% during the third quarter. Park Avenue Securities LLC now owns 6,187 shares of the conglomerate’s stock worth $846,000 after buying an additional 796 shares in the last quarter. Everpar Advisors LLC acquired a new position in 3M during the third quarter worth $251,000. Miracle Mile Advisors LLC purchased a new stake in 3M in the 3rd quarter valued at $218,000. Finally, Fulton Bank N.A. increased its stake in shares of 3M by 25.0% in the 3rd quarter. Fulton Bank N.A. now owns 9,440 shares of the conglomerate’s stock worth $1,290,000 after acquiring an additional 1,890 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Company Profile

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.