3M (NYSE:MMM) Given New $160.00 Price Target at Barclays

3M (NYSE:MMM) had its price target lowered by Barclays from $165.00 to $160.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. Barclays‘s price objective would indicate a potential upside of 21.26% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Tuesday. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.13.

3M Trading Down 4.6 %

MMM traded down $6.37 during trading on Thursday, hitting $131.95. 1,036,176 shares of the stock were exchanged, compared to its average volume of 4,331,917. 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 50 day simple moving average of $147.03 and a 200 day simple moving average of $138.43. The firm has a market cap of $71.16 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 3.30 and a beta of 1.01. 3M has a 1 year low of $90.17 and a 1 year high of $156.35.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. As a group, equities analysts expect that 3M will post 7.8 EPS for the current year.

Insider Transactions at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 3M

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Orion Portfolio Solutions LLC grew its stake in shares of 3M by 7.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,583 shares of the conglomerate’s stock valued at $2,404,000 after buying an additional 1,192 shares during the period. Coldstream Capital Management Inc. increased its holdings in 3M by 7.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,142 shares of the conglomerate’s stock worth $1,520,000 after purchasing an additional 774 shares during the period. Toronto Dominion Bank increased its stake in shares of 3M by 5.8% during the third quarter. Toronto Dominion Bank now owns 274,976 shares of the conglomerate’s stock worth $37,589,000 after buying an additional 15,112 shares during the period. Tudor Financial Inc. acquired a new stake in shares of 3M in the 3rd quarter valued at $259,000. Finally, Sanctuary Advisors LLC raised its stake in 3M by 25.2% in the third quarter. Sanctuary Advisors LLC now owns 65,547 shares of the conglomerate’s stock valued at $8,417,000 after buying an additional 13,193 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.