3M (NYSE:MMM) had its price target decreased by Barclays from $189.00 to $188.00 in a report issued on Wednesday, BenzingaRatingsTable reports. Barclays currently has an underweight rating on the conglomerate’s stock.

A number of other equities research analysts also recently weighed in on the stock. restated a sell rating on shares of 3M in a research note on Tuesday, February 12th. Credit Suisse Group restated an outperform rating and issued a $220.00 price target (down from $230.00) on shares of 3M in a research note on Thursday, January 3rd. Royal Bank of Canada restated a buy rating and issued a $213.00 price target on shares of 3M in a research note on Wednesday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of 3M from $158.00 to $154.00 and set an underweight rating on the stock in a research note on Friday, March 29th. Finally, Zacks Investment Research lowered shares of 3M from a hold rating to a sell rating in a report on Thursday, December 13th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $205.50.

Shares of MMM traded up $0.19 during mid-day trading on Wednesday, reaching $213.32. The company had a trading volume of 20,639 shares, compared to its average volume of 2,249,982. 3M has a 1-year low of $176.87 and a 1-year high of $221.69. The company has a current ratio of 1.89, a quick ratio of 1.29 and a debt-to-equity ratio of 1.36. The company has a market cap of $122.55 billion, a P/E ratio of 20.39, a PEG ratio of 1.98 and a beta of 1.05.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.03. 3M had a net margin of 16.33% and a return on equity of 57.70%. The company had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $7.87 billion. During the same period last year, the company posted $2.10 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that 3M will post 10.51 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 15th were issued a dividend of $1.44 per share. This is a positive change from 3M’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $5.76 annualized dividend and a yield of 2.70%. 3M’s dividend payout ratio (DPR) is presently 55.07%.

In other 3M news, Chairman Inge G. Thulin sold 13,499 shares of the firm’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the completion of the transaction, the chairman now owns 230,458 shares in the company, valued at approximately $46,091,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Inge G. Thulin sold 5,863 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $207.78, for a total transaction of $1,218,214.14. Following the transaction, the chairman now owns 268,188 shares of the company’s stock, valued at approximately $55,724,102.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,414 shares of company stock valued at $15,553,682. Company insiders own 0.72% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Capital Financial Planning LLC acquired a new stake in 3M in the 4th quarter valued at $34,000. Penserra Capital Management LLC purchased a new position in 3M during the 4th quarter worth $35,000. Lake Point Wealth Management purchased a new position in 3M during the 4th quarter worth $37,000. Intercontinental Wealth Advisors LLC purchased a new position in 3M during the 4th quarter worth $38,000. Finally, Essex Investment Management Co. LLC purchased a new position in 3M during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 67.19% of the company’s stock.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Analyst Recommendations for 3M (NYSE:MMM)

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