Analysts Set 3M (NYSE:MMM) PT at $104.00

Shares of 3M (NYSE:MMM) have been given an average recommendation of “Hold” by the ten brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $104.00.

MMM has been the subject of several analyst reports. Barclays reduced their target price on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Bank of America reduced their target price on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. Wells Fargo & Company cut their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Citigroup upped their price target on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Mizuho reiterated a “neutral” rating and set a $105.00 price target on shares of 3M in a report on Wednesday, March 27th.

3M Trading Down 0.7 %

Shares of NYSE MMM opened at $91.42 on Friday. The business has a 50 day simple moving average of $95.70 and a 200 day simple moving average of $97.35. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the previous year, the company earned $2.28 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that 3M will post 7.87 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.61%. 3M’s payout ratio is currently -47.82%.

Insider Activity

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of 3M

Large investors have recently bought and sold shares of the stock. Tributary Capital Management LLC bought a new stake in shares of 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of 3M during the first quarter worth $32,000. Briaud Financial Planning Inc bought a new stake in shares of 3M during the third quarter worth $35,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of 3M during the fourth quarter worth $35,000. 65.25% of the stock is currently owned by institutional investors.

About 3M

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.