3M (NYSE:MMM) Now Covered by Argus

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

MMM has been the topic of a number of other reports. Royal Bank Of Canada increased their target price on shares of 3M from $132.00 to $135.00 and gave the stock an “underperform” rating in a report on Wednesday, October 21st. Wolfe Research restated an “outperform” rating on shares of 3M in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of 3M in a research note on Wednesday, October 21st. HSBC raised 3M to a “strong-buy” rating in a research report on Thursday, October 22nd. Finally, Citigroup increased their price objective on 3M from $183.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and an average price target of $190.07.

3M Stock Down 3.2%

Shares of NYSE:MMM opened at $187.72 on Wednesday. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.41 and a quick ratio of 1.06. The firm has a market capitalization of $97.00 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The firm’s 50-day moving average is $168.84 and its two-hundred day moving average is $161.65. 3M has a 1 year low of $139.34 and a 1 year high of $196.90.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 20th. The conglomerate reported $2.50 EPS for the quarter, beating the consensus estimate of $2.38 by $0.12. The business had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. 3M had a net margin of 14.01% and a return on equity of 123.11%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.19 earnings per share. Analysts predict that 3M will post 9.14 EPS for the current year.

3M announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 4th that permits the company to buy back $6 billion in outstanding shares. This repurchase authorization permits the conglomerate to buy up to 6.6% of its shares through open market purchases. Share repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its holdings in shares of 3M by 11.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 31,383 shares of the conglomerate’s stock valued at $5,152,000 after purchasing an additional 3,275 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of 3M by 11.7% during the third quarter. Ritholtz Wealth Management now owns 12,049 shares of the conglomerate’s stock worth $1,978,000 after purchasing an additional 1,262 shares in the last quarter. UNIVEST FINANCIAL Corp grew its stake in shares of 3M by 9.2% during the third quarter. UNIVEST FINANCIAL Corp now owns 1,702 shares of the conglomerate’s stock worth $279,000 after purchasing an additional 143 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in 3M by 0.8% in the third quarter. Jacobi Capital Management LLC now owns 18,977 shares of the conglomerate’s stock valued at $3,115,000 after buying an additional 152 shares during the last quarter. Finally, International Private Wealth Advisors LLC purchased a new position in 3M in the third quarter valued at $410,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M News Roundup

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

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.