3M (NYSE:MMM) Now Covered by Analysts at Argus

Argus initiated coverage on shares of 3M (NYSE:MMM) in a research report report published on Wednesday,Zacks reports. The firm issued a strong-buy rating on the conglomerate’s stock.

MMM has been the topic of several other research reports. HSBC raised shares of 3M to a “strong-buy” rating in a research report on Thursday, October 22nd. Citigroup lifted their price objective on shares of 3M from $183.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. UBS Group set a $230.00 target price on shares of 3M in a research note on Wednesday. Royal Bank Of Canada increased their price target on 3M from $132.00 to $135.00 and gave the company an “underperform” rating in a research report on Wednesday, October 21st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $186.00 price objective on shares of 3M in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.07.

3M Trading Down 3.2%

Shares of NYSE MMM opened at $187.72 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $97.00 billion, a PE ratio of 27.98, a PEG ratio of 2.53 and a beta of 1.01. 3M has a twelve month low of $139.34 and a twelve month high of $196.90. The stock has a fifty day simple moving average of $168.84 and a 200-day simple moving average of $161.65.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.12. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. 3M had a return on equity of 123.11% and a net margin of 14.01%. 3M’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.19 EPS. On average, equities analysts forecast that 3M will post 9.14 earnings per share for the current year.

3M announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 4th that allows the company to repurchase $6 billion in outstanding shares. This buyback authorization allows the conglomerate to purchase up to 6.6% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, November 13th. This represents a $3.12 annualized dividend and a dividend yield of 1.7%. 3M’s dividend payout ratio is 46.50%.

Hedge Funds Weigh In On 3M

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi grew its holdings in shares of 3M by 67.0% during the second quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock worth $734,448,000 after buying an additional 1,819,178 shares in the last quarter. Ascentis Wealth Management LLC raised its position in shares of 3M by 22,972.5% in the second quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock valued at $56,259,000 after buying an additional 345,966 shares during the last quarter. Nippon Life Global Investors Americas Inc. purchased a new position in shares of 3M during the third quarter valued at approximately $56,678,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 3M by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock valued at $637,202,000 after buying an additional 270,458 shares during the period. Finally, Calamos Advisors LLC lifted its stake in shares of 3M by 332.2% during the third quarter. Calamos Advisors LLC now owns 303,723 shares of the conglomerate’s stock valued at $49,856,000 after buying an additional 233,451 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Key 3M News

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.