Analysts Set 3M Company (NYSE:MMM) PT at $175.40

Shares of 3M Company (NYSE:MMM) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $175.40.

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut 3M from a “buy” rating to a “hold” rating and reduced their target price for the company from $199.00 to $178.00 in a report on Monday, December 8th. UBS Group increased their price objective on shares of 3M from $184.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of 3M in a research note on Wednesday, October 8th. Morgan Stanley set a $160.00 price target on shares of 3M and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada lifted their price objective on 3M from $120.00 to $130.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd.

3M Price Performance

Shares of NYSE:MMM opened at $166.15 on Friday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.40 and a current ratio of 1.84. 3M has a 52 week low of $121.98 and a 52 week high of $174.69. The firm has a market cap of $88.26 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 2.35 and a beta of 1.09. The firm’s fifty day moving average is $165.58 and its 200-day moving average is $158.59.

3M (NYSE:MMM) last announced its earnings results on Tuesday, February 21st. The conglomerate reported $2.45 EPS for the quarter. 3M had a return on equity of 98.47% and a net margin of 13.70%.The firm had revenue of $8.38 billion for the quarter. Sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.92 annualized dividend and a yield of 1.8%. 3M’s payout ratio is 46.65%.

Insider Buying and Selling

In other 3M news, EVP Zoe L. Dickson sold 13,826 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total value of $2,347,378.28. Following the completion of the sale, the executive vice president directly owned 6,162 shares in the company, valued at approximately $1,046,184.36. This trade represents a 69.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark W. Murphy sold 19,061 shares of 3M stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the completion of the sale, the executive vice president directly owned 6,594 shares of the company’s stock, valued at approximately $1,098,230.70. This trade represents a 74.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,516 shares of company stock worth $7,836,465 over the last 90 days. Company insiders own 0.48% of the company’s stock.

Institutional Trading of 3M

Several large investors have recently made changes to their positions in MMM. Farther Finance Advisors LLC lifted its position in shares of 3M by 15.8% during the second quarter. Farther Finance Advisors LLC now owns 12,137 shares of the conglomerate’s stock valued at $1,848,000 after purchasing an additional 1,652 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in 3M by 12.0% in the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 40,875 shares of the conglomerate’s stock valued at $6,218,000 after buying an additional 4,384 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in 3M in the 1st quarter valued at about $68,822,000. Duncan Williams Asset Management LLC bought a new position in shares of 3M during the 2nd quarter worth approximately $425,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of 3M in the 2nd quarter worth approximately $1,303,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).