Barclays Has Lowered Expectations for 3M (NYSE:MMM) Stock Price

3M (NYSE:MMM) had its target price decreased by research analysts at Barclays from $190.00 to $185.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. Barclays‘s target price indicates a potential upside of 27.00% from the stock’s current price.

MMM has been the subject of several other reports. UBS Group restated a “buy” rating on shares of 3M in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of 3M from $179.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $182.00 target price on shares of 3M in a report on Friday, January 16th. Mizuho set a $160.00 target price on shares of 3M in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company lowered their target price on 3M from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $172.64.

3M Trading Up 0.3%

NYSE:MMM traded up $0.44 during trading hours on Wednesday, hitting $145.67. 964,353 shares of the stock were exchanged, compared to its average volume of 4,169,557. The company has a market capitalization of $76.09 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 2.30. The company’s 50 day moving average is $157.90 and its two-hundred day moving average is $161.01. 3M has a twelve month low of $121.98 and a twelve month high of $177.41.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.03 billion. 3M had a return on equity of 95.36% and a net margin of 13.03%.The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 5,145 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the sale, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at approximately $446,558.75. This represents a 66.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. L & S Advisors Inc increased its holdings in shares of 3M by 32.2% in the third quarter. L & S Advisors Inc now owns 58,316 shares of the conglomerate’s stock valued at $9,049,000 after purchasing an additional 14,204 shares during the last quarter. SG Americas Securities LLC lifted its position in 3M by 806.1% during the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock worth $50,345,000 after acquiring an additional 279,757 shares during the last quarter. Inspire Trust Co. N.A. grew its position in shares of 3M by 21.9% in the third quarter. Inspire Trust Co. N.A. now owns 39,000 shares of the conglomerate’s stock valued at $6,052,000 after purchasing an additional 7,000 shares during the last quarter. Allstate Corp bought a new stake in 3M in the 3rd quarter valued at $3,087,000. Finally, First Bank & Trust acquired a new position in 3M in the 4th quarter valued at $828,000. 65.25% of the stock is currently owned by institutional investors.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).