Shares of 3M Co (NYSE:MMM) have received a consensus recommendation of “Hold” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $255.64.
Several brokerages have recently issued reports on MMM. Barclays began coverage on shares of 3M in a report on Thursday, February 15th. They issued an “underweight” rating and a $235.00 target price on the stock. Deutsche Bank upgraded shares of 3M from a “hold” rating to a “buy” rating and raised their target price for the stock from $240.00 to $275.00 in a report on Tuesday, February 13th. Vetr upgraded shares of 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 price target on the stock in a report on Monday, February 12th. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Tuesday, January 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $254.00 price target on shares of 3M in a report on Thursday, January 25th.
Shares of 3M (MMM) traded up $1.02 during trading on Tuesday, hitting $237.02. 1,616,681 shares of the stock traded hands, compared to its average volume of 2,860,000. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. 3M has a 1 year low of $186.30 and a 1 year high of $259.77. The company has a market capitalization of $141,150.00, a PE ratio of 25.85, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a dividend of $1.36 per share. The ex-dividend date is Thursday, February 15th. This represents a $5.44 annualized dividend and a yield of 2.30%. This is a positive change from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio (DPR) is currently 59.32%.
In other 3M news, CFO Nicholas C. Gangestad sold 1,681 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.76, for a total transaction of $419,846.56. Following the completion of the transaction, the chief financial officer now owns 23,562 shares of the company’s stock, valued at $5,884,845.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael F. Roman sold 4,146 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total value of $1,022,610.90. Following the transaction, the executive vice president now directly owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The disclosure for this sale can be found here. Insiders have sold 49,673 shares of company stock valued at $12,420,577 in the last three months. Insiders own 0.58% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Green Square Capital LLC raised its position in shares of 3M by 94.6% in the 4th quarter. Green Square Capital LLC now owns 5,172 shares of the conglomerate’s stock worth $1,217,000 after purchasing an additional 2,514 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of 3M by 10.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 101,193 shares of the conglomerate’s stock worth $23,818,000 after purchasing an additional 9,240 shares during the last quarter. Ackerman Capital Advisors LLC purchased a new position in shares of 3M in the 4th quarter worth about $246,000. Wagner Wealth Management LLC purchased a new position in shares of 3M in the 4th quarter worth about $412,000. Finally, KCM Investment Advisors LLC raised its position in shares of 3M by 0.7% in the 4th quarter. KCM Investment Advisors LLC now owns 110,623 shares of the conglomerate’s stock worth $26,037,000 after purchasing an additional 770 shares during the last quarter. 66.17% of the stock is owned by institutional investors and hedge funds.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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