3M Company (NYSE:MMM) Stock Has Consensus Target Price of $185.36 According to Analysts

Shares of 3M Company (NYSE:MMM) have earned an average rating of “Hold” from the sixteen research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $185.36.

Several research analysts have recently commented on the company. Mizuho boosted their price objective on 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Weiss Ratings raised shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Royal Bank Of Canada lifted their target price on shares of 3M from $132.00 to $135.00 and gave the company an “underperform” rating in a research report on Wednesday, October 21st. Sanford C. Bernstein lifted their target price on shares of 3M from $171.00 to $197.00 and gave the company a “market perform” rating in a research report on Wednesday, October 21st. Finally, Citigroup boosted their price target 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.

Insider Activity

In related news, insider Karin Chavez sold 3,635 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the transaction, the insider directly owned 14,035 shares in the company, valued at approximately $2,561,527.85. The trade was a 20.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On 3M

Large investors have recently added to or reduced their stakes in the company. Two West Capital Advisors LLC lifted its holdings in 3M by 3.3% in the 3rd quarter. Two West Capital Advisors LLC now owns 1,996 shares of the conglomerate’s stock worth $336,000 after buying an additional 63 shares during the period. Blue Jean Financial LLC grew its position in shares of 3M by 4.5% in the 3rd quarter. Blue Jean Financial LLC now owns 1,496 shares of the conglomerate’s stock worth $246,000 after buying an additional 64 shares during the last quarter. Capital Analysts LLC increased its stake in shares of 3M by 2.7% during the second quarter. Capital Analysts LLC now owns 2,576 shares of the conglomerate’s stock valued at $417,000 after buying an additional 67 shares during the period. Revisor Wealth Management LLC increased its stake in shares of 3M by 2.8% during the third quarter. Revisor Wealth Management LLC now owns 2,492 shares of the conglomerate’s stock valued at $411,000 after buying an additional 67 shares during the period. Finally, MBA Advisors LLC increased its stake in shares of 3M by 2.5% during the second quarter. MBA Advisors LLC now owns 2,839 shares of the conglomerate’s stock valued at $460,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

3M stock opened at $178.46 on Friday. 3M has a 52 week low of $139.34 and a 52 week high of $184.90. The business has a 50-day simple moving average of $168.44 and a 200 day simple moving average of $161.40. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 3.01. The stock has a market cap of $92.21 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.25 and a beta of 0.99.

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

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 24th. 3M’s payout ratio is currently 46.50%.

About 3M

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.