Wells Fargo & Company Cuts 3M (NYSE:MMM) Price Target to $160.00

3M (NYSE:MMM) had its target price lowered by Wells Fargo & Company from $175.00 to $160.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the conglomerate’s stock.

Several other analysts have also recently issued reports on MMM. UBS Group restated a “buy” rating on shares of 3M in a research note on Friday, March 13th. Citigroup dropped their price target on 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Wolfe Research raised their price objective on 3M from $196.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $182.00 price objective on shares of 3M in a report on Friday, January 16th. Finally, Mizuho set a $160.00 target price on shares of 3M in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $172.64.

3M Stock Performance

3M stock opened at $144.49 on Wednesday. The stock has a market cap of $75.48 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The stock has a 50 day moving average of $157.01 and a 200-day moving average of $160.70. 3M has a 52 week low of $121.98 and a 52 week high of $177.41.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 20th. The conglomerate reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.03. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.03 billion. 3M had a net margin of 13.03% and a return on equity of 95.36%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 13th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, February 13th. This is a positive change from 3M’s previous quarterly dividend of $0.73. 3M’s payout ratio is currently 52.00%.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the completion of the transaction, the chief accounting officer owned 2,585 shares in the company, valued at $446,558.75. The trade was a 66.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 3M

Hedge funds have recently added to or reduced their stakes in the stock. American Trust boosted its holdings in shares of 3M by 3.4% during the fourth quarter. American Trust now owns 1,803 shares of the conglomerate’s stock valued at $289,000 after acquiring an additional 60 shares during the period. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in shares of 3M by 1.0% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after acquiring an additional 61 shares during the period. Private Trust Co. NA increased its holdings in shares of 3M by 0.8% in the 3rd quarter. Private Trust Co. NA now owns 9,205 shares of the conglomerate’s stock worth $1,428,000 after acquiring an additional 69 shares during the period. MJT & Associates Financial Advisory Group Inc. lifted its position in 3M by 6.0% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate’s stock valued at $195,000 after purchasing an additional 71 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in 3M by 4.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock valued at $288,000 after purchasing an additional 72 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).