3M Company (NYSE:MMM) – Research analysts at Jefferies Group lowered their Q4 2017 earnings estimates for shares of 3M in a report released on Wednesday. Jefferies Group analyst L. Alexander now forecasts that the conglomerate will post earnings per share of $1.97 for the quarter, down from their prior estimate of $2.02. Jefferies Group currently has a “Buy” rating and a $262.00 target price on the stock. Jefferies Group also issued estimates for 3M’s FY2018 earnings at $9.80 EPS.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.15 earnings per share.

MMM has been the subject of a number of other research reports. Royal Bank of Canada reiterated a “hold” rating and set a $209.00 target price on shares of 3M in a research note on Friday, September 15th. J P Morgan Chase & Co downgraded shares of 3M from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $185.00 to $201.00 in a research note on Wednesday, September 20th. Stifel Nicolaus boosted their target price on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley boosted their target price on shares of 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a research note on Monday, October 2nd. Finally, Bank of America boosted their target price on shares of 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. 3M presently has an average rating of “Hold” and an average price target of $231.16.

Shares of 3M (NYSE:MMM) traded down $1.03 during mid-day trading on Thursday, hitting $238.08. 1,984,700 shares of the company were exchanged, compared to its average volume of 1,846,779. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $142,415.86, a P/E ratio of 26.72, a P/E/G ratio of 2.59 and a beta of 1.10. 3M has a 12-month low of $173.55 and a 12-month high of $244.23.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th were paid a $0.0118 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio is presently 52.51%.

In other news, CFO Nicholas C. Gangestad sold 4,004 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.84, for a total value of $936,295.36. Following the completion of the sale, the chief financial officer now directly owns 25,805 shares of the company’s stock, valued at $6,034,241.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ivan K. Fong sold 2,348 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.12, for a total transaction of $547,365.76. Following the completion of the sale, the vice president now directly owns 24,479 shares of the company’s stock, valued at $5,706,544.48. The disclosure for this sale can be found here. Insiders sold 22,804 shares of company stock valued at $5,303,706 in the last 90 days. 0.58% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. MPS Loria Financial Planners LLC purchased a new stake in shares of 3M in the second quarter valued at about $124,000. Hoertkorn Richard Charles purchased a new stake in shares of 3M in the third quarter valued at about $126,000. Proficio Capital Partners LLC raised its holdings in shares of 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after buying an additional 404 shares during the last quarter. Harfst & Associates Inc. raised its holdings in shares of 3M by 17.0% in the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after buying an additional 100 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its holdings in 3M by 87.5% during the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after purchasing an additional 350 shares in the last quarter. 66.33% of the stock is owned by institutional investors and hedge funds.

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About 3M

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, , 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.

Earnings History and Estimates for 3M (NYSE:MMM)

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