3M Co (NYSE:MMM) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $174.25.

Several equities research analysts have weighed in on MMM shares. Barclays lowered their price objective on shares of 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of 3M from $177.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Citigroup decreased their price target on shares of 3M from $197.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on shares of 3M from $140.00 to $143.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Finally, Wolfe Research set a $177.00 price objective on shares of 3M and gave the stock a “sell” rating in a research report on Friday, October 25th.

In other 3M news, EVP Julie L. Bushman sold 6,879 shares of 3M stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $165.09, for a total transaction of $1,135,654.11. Also, SVP Eric D. Hammes sold 1,341 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total transaction of $233,669.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,216 shares of company stock worth $2,233,940. Corporate insiders own 0.83% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in shares of 3M by 1.9% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,285 shares of the conglomerate’s stock valued at $748,000 after acquiring an additional 79 shares during the period. CRA Financial Services LLC boosted its position in shares of 3M by 8.9% during the second quarter. CRA Financial Services LLC now owns 2,762 shares of the conglomerate’s stock worth $479,000 after purchasing an additional 225 shares in the last quarter. Duncker Streett & Co. Inc. boosted its position in shares of 3M by 2.1% during the second quarter. Duncker Streett & Co. Inc. now owns 17,688 shares of the conglomerate’s stock worth $3,066,000 after purchasing an additional 357 shares in the last quarter. Westside Investment Management Inc. acquired a new position in shares of 3M in the 2nd quarter valued at $44,000. Finally, M&R Capital Management Inc. grew its holdings in shares of 3M by 7.8% in the 2nd quarter. M&R Capital Management Inc. now owns 4,160 shares of the conglomerate’s stock valued at $721,000 after buying an additional 301 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Shares of MMM stock traded up $7.10 during trading hours on Monday, hitting $171.47. 3,800,364 shares of the company’s stock were exchanged, compared to its average volume of 2,761,734. The stock’s 50-day moving average is $168.86 and its 200-day moving average is $166.83. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The stock has a market cap of $98.60 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.97 and a beta of 1.09. 3M has a 52 week low of $150.58 and a 52 week high of $219.75.

3M (NYSE:MMM) last announced its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.09. The company had revenue of $7.99 billion during the quarter, compared to analyst estimates of $8.20 billion. 3M had a return on equity of 54.02% and a net margin of 15.48%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. Equities research analysts forecast that 3M will post 9.05 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 22nd will be issued a dividend of $1.44 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $5.76 annualized dividend and a yield of 3.36%. 3M’s dividend payout ratio is currently 55.07%.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Analyst Recommendations for 3M (NYSE:MMM)

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