3M Company (MMM) Receives $210.56 Average Target Price from Analysts
3M Company (NYSE:MMM) has earned an average recommendation of “Hold” from the sixteen research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $210.56.
Several research firms have commented on MMM. Royal Bank Of Canada reiterated a “hold” rating and issued a $209.00 price objective on shares of 3M in a report on Friday, September 15th. Jefferies Group LLC reissued a “buy” rating and issued a $234.00 target price on shares of 3M in a research report on Wednesday, August 16th. J P Morgan Chase & Co cut shares of 3M from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $185.00 to $201.00 in a research report on Wednesday, September 20th. Morgan Stanley boosted their target price on shares of 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a research report on Monday, October 2nd. Finally, BidaskClub cut shares of 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th.
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In related news, insider Paul A. Keel sold 4,965 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the completion of the sale, the insider now owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank R. Jr. Little sold 2,719 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $206.03, for a total transaction of $560,195.57. Following the sale, the insider now directly owns 9,010 shares of the company’s stock, valued at approximately $1,856,330.30. The disclosure for this sale can be found here. Insiders have sold 9,112 shares of company stock valued at $1,878,890 in the last ninety days. 0.58% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of 3M by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock worth $626,792,000 after acquiring an additional 8,239 shares during the last quarter. Smithfield Trust Co. lifted its holdings in shares of 3M by 0.7% in the first quarter. Smithfield Trust Co. now owns 17,364 shares of the conglomerate’s stock worth $3,322,000 after acquiring an additional 122 shares during the last quarter. C.V. Starr & Co. Inc. Trust lifted its holdings in shares of 3M by 20.0% in the first quarter. C.V. Starr & Co. Inc. Trust now owns 60,000 shares of the conglomerate’s stock worth $11,480,000 after acquiring an additional 10,000 shares during the last quarter. Twin Capital Management Inc. bought a new position in shares of 3M in the second quarter worth about $6,178,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of 3M by 3.6% in the first quarter. Gotham Asset Management LLC now owns 99,873 shares of the conglomerate’s stock worth $19,109,000 after acquiring an additional 3,427 shares during the last quarter. 66.18% of the stock is owned by hedge funds and other institutional investors.
Shares of 3M (NYSE MMM) traded up 0.95% during mid-day trading on Wednesday, reaching $221.32. 1,647,816 shares of the company’s stock were exchanged. The stock has a market cap of $132.08 billion, a price-to-earnings ratio of 25.24 and a beta of 1.09. The stock’s 50-day moving average is $212.49 and its 200-day moving average is $205.18. 3M has a 52-week low of $163.85 and a 52-week high of $221.32.
3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by ($0.01). 3M had a net margin of 17.65% and a return on equity of 47.83%. The company had revenue of $7.81 billion during the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. 3M’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts expect that 3M will post $8.96 EPS for the current year.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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