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

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

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Barclays boosted their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and an average target price of $148.87.

3M Price Performance

Shares of NYSE:MMM opened at $150.13 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market cap of $81.76 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The business has a 50-day simple moving average of $135.21 and a two-hundred day simple moving average of $131.26. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. On average, analysts expect that 3M will post 7.8 earnings per share for the current year.

Insider Activity

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of 3M

Several institutional investors and hedge funds have recently modified their holdings of the stock. Financial Life Planners bought a new stake in 3M during the 4th quarter valued at $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M in the third quarter valued at about $27,000. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the period. True Wealth Design LLC grew its holdings in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. Finally, ORG Partners LLC increased its position in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. 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.