3M’s (MMM) “Hold (C+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their hold (c+) rating on shares of 3M (NYSE:MMM) in a research report report published on Saturday morning,Weiss Ratings reports.

Other analysts also recently issued reports about the company. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Barclays boosted their price objective on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Citigroup lowered their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

3M Stock Up 5.5%

Shares of NYSE:MMM opened at $150.37 on Friday. The business’s 50 day simple moving average is $141.36 and its two-hundred day simple moving average is $138.88. The firm has a market cap of $80.93 billion, a P/E ratio of 19.92, a PEG ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $96.76 and a 52-week high of $156.35.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. As a group, research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

Institutional Trading of 3M

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wayfinding Financial LLC purchased a new stake in shares of 3M during the 4th quarter valued at $851,000. Meyer Handelman Co. raised its stake in 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after acquiring an additional 2,678 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in 3M by 29.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate’s stock worth $82,921,000 after acquiring an additional 145,146 shares during the last quarter. USA Financial Formulas purchased a new position in 3M in the 4th quarter worth $816,000. Finally, Braun Stacey Associates Inc. raised its stake in 3M by 18.4% in the 4th quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate’s stock worth $18,408,000 after acquiring an additional 22,203 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.