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

3M (NYSE:MMM)‘s stock had its “hold (c)” rating reiterated by Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on MMM. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Citigroup boosted their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, 3M currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Trading Down 1.4 %

Shares of MMM stock opened at $150.13 on Friday. The business has a 50-day moving average of $135.21 and a 200 day moving average of $131.26. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The stock has a market capitalization 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 (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business 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%. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 EPS. As a group, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, the executive vice president now owns 4,902 shares of the company’s stock, valued at approximately $734,564.70. This trade represents a 57.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s 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 in the company, valued at $750,736.32. The trade was a 55.70 % 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 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 3M

Several hedge funds have recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc grew its holdings in shares of 3M by 2.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 13,157 shares of the conglomerate’s stock worth $1,745,000 after purchasing an additional 300 shares during the last quarter. Winebrenner Capital Management LLC bought a new position in 3M in the 4th quarter worth about $516,000. Deseret Mutual Benefit Administrators increased its position in shares of 3M by 5.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,475 shares of the conglomerate’s stock worth $1,223,000 after acquiring an additional 529 shares during the period. Drum Hill Capital LLC bought a new stake in shares of 3M during the fourth quarter valued at approximately $217,000. Finally, Paradigm Asset Management Co. LLC purchased a new stake in shares of 3M in the fourth quarter valued at approximately $749,000. 65.25% of the stock is currently owned by institutional investors.

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.