3M (NYSE:MMM) Stock Picked Up by Analysts at Argus

Research analysts at Argus started coverage on shares of 3M (NYSE:MMM) in a research note issued on Wednesday, Zacks reports. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

A number of other research analysts also recently issued reports on MMM. JPMorgan Chase & Co. boosted their price target on 3M from $191.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings raised shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Citigroup raised their price objective on shares of 3M from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Mizuho lifted their target price on shares of 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group boosted their target price on shares of 3M from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and a consensus target price of $190.07.

3M Stock Performance

Shares of MMM stock opened at $187.72 on Wednesday. The stock has a market cap of $97.00 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The business has a 50-day simple moving average of $168.84 and a 200-day simple moving average of $161.65. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 3.01. 3M has a 52-week low of $139.34 and a 52-week high of $196.90.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 20th. The conglomerate reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.12. The firm had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. 3M had a return on equity of 123.11% and a net margin of 14.01%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.19 earnings per share. On average, equities analysts expect that 3M will post 9.14 EPS for the current year.

3M declared that its board has authorized a share repurchase program on Wednesday, November 4th that allows the company to repurchase $6 billion in outstanding shares. This repurchase authorization allows the conglomerate to purchase up to 6.6% of its stock through open market purchases. Share repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On 3M

Hedge funds have recently bought and sold shares of the business. DecisionPoint Financial LLC increased its holdings in 3M by 2,387.5% in the 3rd quarter. DecisionPoint Financial LLC now owns 199 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 191 shares in the last quarter. Security National Bank of SO Dak acquired a new position in 3M during the second quarter worth $32,000. Trellis Wealth Advisors LLC purchased a new position in 3M during the third quarter valued at $33,000. Latitude Advisors LLC purchased a new position in 3M during the third quarter valued at $34,000. Finally, Compass Financial Management LLC acquired a new stake in shares of 3M in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Key Stories Impacting 3M

Here are the key news stories impacting 3M this week:

• Positive Sentiment: Goldman Sachs raised its price target to $225 and assigned a Buy rating, signaling confidence in further upside. JPMorgan also raised its target, to $210, and maintained an Overweight rating.
• Positive Sentiment: Safety & Industrial growth is gaining momentum, with broad-based demand, margin expansion and productivity gains supporting an upbeat 2026 outlook. Zacks article
• Positive Sentiment: 3M authorized up to $6 billion in share repurchases, a potential source of shareholder returns and a signal the board sees value in the shares.
• Positive Sentiment: A PFAS settlement may reduce a major litigation overhang. UBS said it covers about 99% of current personal-injury claims and costs less than investors had expected. Proactive Investors article
• Positive Sentiment: 3M and Amazon Web Services are expanding their data-center optics collaboration. The buildout is expected to create more than 500 jobs and support demand tied to AI infrastructure. Yahoo Finance article
• Neutral Sentiment: 3M declared a quarterly dividend of $0.78 per share, equivalent to $3.12 annually.
• Negative Sentiment: The PFAS resolution still carries uncertainty: a report said the payment arrangement depends on a participation threshold that has not been publicly disclosed. The multibillion-dollar obligation also remains a substantial cost. 24/7 Wall St. article

3M Company Profile

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.