3M (NYSE:MMM) Price Target Lowered to $160.00 at Jefferies Financial Group

3M (NYSE:MMM) had its price target trimmed by Jefferies Financial Group from $180.00 to $160.00 in a research report released on Monday morning,MarketScreener reports. The firm currently has a hold rating on the conglomerate’s stock.

Several other equities research analysts also recently issued reports on the stock. Citigroup cut their target price on shares of 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, January 21st. Wells Fargo & Company lowered their price target on 3M from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank Of Canada raised their price objective on 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a research report on Wednesday, January 21st. Mizuho set a $160.00 target price on 3M in a research note on Wednesday, January 21st. Finally, Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $172.64.

3M Stock Up 0.1%

Shares of NYSE:MMM traded up $0.17 during midday trading on Monday, hitting $145.40. The stock had a trading volume of 1,040,228 shares, compared to its average volume of 4,171,039. The company has a market cap of $75.96 billion, a P/E ratio of 24.24, a PEG ratio of 2.07 and a beta of 1.08. 3M has a 12 month low of $121.98 and a 12 month high of $177.41. The business’s 50-day simple moving average is $157.90 and its 200-day simple moving average is $161.01. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 2.30.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 13th were issued a dividend of $0.78 per share. This is a boost from 3M’s previous quarterly dividend of $0.73. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, February 13th. 3M’s dividend payout ratio is presently 52.00%.

Insider Activity at 3M

In other news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the transaction, the chief accounting officer owned 2,585 shares in the company, valued at approximately $446,558.75. This trade represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMM. Commonwealth Retirement Investments LLC bought a new stake in shares of 3M in the fourth quarter valued at about $28,000. J.Safra Asset Management Corp bought a new position in 3M during the third quarter worth about $34,000. Westside Investment Management Inc. increased its position in 3M by 77.4% during the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after acquiring an additional 106 shares during the period. EQ Wealth Advisors LLC acquired a new stake in 3M in the 4th quarter worth about $40,000. Finally, Sfam LLC bought a new stake in 3M in the 4th quarter valued at about $45,000. 65.25% of the stock is owned by institutional investors and hedge funds.

About 3M

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).