3M (NYSE:MMM) PT Raised to $160.00

3M (NYSE:MMM) had its price target hoisted by Barclays from $145.00 to $160.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the conglomerate’s stock.

Several other brokerages have also recently issued reports on MMM. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a hold rating to a buy rating and boosted their price target for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Royal Bank of Canada increased their target price on 3M from $93.00 to $95.00 and gave the stock an underperform rating in a research report on Monday, July 29th. StockNews.com lowered 3M from a buy rating to a hold rating in a research report on Monday, July 29th. Citigroup increased their price objective on 3M from $100.00 to $133.00 and gave the stock a neutral rating in a report on Monday, July 29th. Finally, Argus upgraded shares of 3M from a hold rating to a buy rating and set a $145.00 target price on the stock in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, 3M has an average rating of Hold and a consensus price target of $125.50.

3M Trading Up 0.4 %

MMM opened at $135.27 on Wednesday. 3M has a one year low of $71.12 and a one year high of $140.72. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The business has a 50 day simple moving average of $130.70 and a two-hundred day simple moving average of $110.51. The firm has a market capitalization of $74.85 billion, a price-to-earnings ratio of -10.63, a PEG ratio of 2.51 and a beta of 0.95.

3M (NYSE:MMM) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter in the prior year, the company earned $2.17 earnings per share. Analysts predict that 3M will post 7.22 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.07%. 3M’s dividend payout ratio is -22.01%.

Insiders Place Their Bets

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

Institutional Trading of 3M

Several large investors have recently modified their holdings of MMM. Tributary Capital Management LLC purchased a new position in 3M in the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. lifted its stake in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the period. MFA Wealth Advisors LLC bought a new stake in 3M during the second quarter valued at approximately $28,000. Meeder Asset Management Inc. increased its holdings in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in 3M in the first quarter worth approximately $32,000. Institutional investors 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.