Shares of 3M Co (NYSE:MMM) have earned a consensus rating of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $214.57.
Several brokerages have recently issued reports on MMM. Barclays reduced their price objective on 3M from $195.00 to $190.00 and set an “underweight” rating for the company in a research report on Monday, November 19th. reiterated a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Deutsche Bank boosted their price objective on 3M from $206.00 to $210.00 and gave the stock a “hold” rating in a research report on Friday, November 16th. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $220.00 price objective (down from $230.00) on shares of 3M in a research report on Thursday, January 3rd.
In other 3M news, VP Ippocratis Vrohidis sold 8,153 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $199.51, for a total value of $1,626,605.03. Following the completion of the sale, the vice president now directly owns 786 shares in the company, valued at $156,814.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joaquin Delgado sold 4,897 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $207.30, for a total value of $1,015,148.10. Following the completion of the sale, the executive vice president now owns 23,191 shares of the company’s stock, valued at $4,807,494.30. The disclosure for this sale can be found here. Insiders sold 71,551 shares of company stock valued at $14,335,468 over the last 90 days. 0.72% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Fulcrum Equity Management acquired a new stake in shares of 3M during the 4th quarter valued at $263,000. Norges Bank acquired a new stake in shares of 3M during the 4th quarter valued at $918,305,000. Actinver Wealth Management Inc. acquired a new stake in shares of 3M during the 4th quarter valued at $2,197,000. Swaine & Leidel Wealth Services LLC acquired a new stake in shares of 3M during the 4th quarter valued at $1,575,000. Finally, O Brien Greene & Co. Inc acquired a new stake in shares of 3M during the 4th quarter valued at $1,480,000. Institutional investors own 66.67% of the company’s stock.
Shares of NYSE MMM traded up $1.03 during midday trading on Friday, hitting $200.89. 1,724,488 shares of the company’s stock were exchanged, compared to its average volume of 2,245,213. The company has a current ratio of 1.89, a quick ratio of 1.29 and a debt-to-equity ratio of 1.36. The company has a market cap of $115.67 billion, a PE ratio of 19.21, a P/E/G ratio of 1.93 and a beta of 1.06. 3M has a twelve month low of $176.87 and a twelve month high of $243.10.
3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.03. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $7.87 billion. 3M had a return on equity of 57.70% and a net margin of 16.33%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share. Sell-side analysts forecast that 3M will post 10.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Friday, February 15th will be given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 2.87%. This is an increase from 3M’s previous quarterly dividend of $1.36. The ex-dividend date is Thursday, February 14th. 3M’s dividend payout ratio is 55.07%.
3M announced that its board has authorized a share repurchase program on Tuesday, November 13th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the conglomerate to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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