3M (NYSE:MMM) Price Target Increased to $165.00 by Analysts at Barclays

3M (NYSE:MMM) had its price target upped by Barclays from $160.00 to $165.00 in a research note issued to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the conglomerate’s stock.

A number of other equities research analysts have also commented on MMM. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Morgan Stanley initiated coverage on 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target on the stock. Finally, Bank of America boosted their price objective on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, 3M has an average rating of “Hold” and an average price target of $135.67.

3M Trading Down 2.9 %

NYSE MMM opened at $127.91 on Wednesday. 3M has a 12-month low of $72.47 and a 12-month high of $141.34. The company has a fifty day simple moving average of $133.07 and a two-hundred day simple moving average of $113.57. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The stock has a market cap of $70.78 billion, a P/E ratio of -10.06, a P/E/G ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. The firm’s revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. On average, analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.19%. The ex-dividend date was Monday, August 26th. 3M’s payout ratio is -22.01%.

Insider Activity

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tributary Capital Management LLC purchased a new stake in 3M in the 1st quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in shares of 3M during the 2nd quarter valued at about $28,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. increased its position in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

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.