Analysts Set 3M Company (NYSE:MMM) Price Target at $175.40

Shares of 3M Company (NYSE:MMM) have received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $175.40.

MMM has been the subject of several recent analyst reports. Barclays raised their price objective on shares of 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Morgan Stanley set a $160.00 target price on shares of 3M and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. UBS Group lifted their price target on shares of 3M from $184.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada upped their price objective on shares of 3M from $120.00 to $130.00 and gave the company an “underperform” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on 3M from $175.00 to $178.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th.

3M Stock Performance

Shares of MMM opened at $165.27 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 2.54. The firm’s fifty day simple moving average is $165.50 and its two-hundred day simple moving average is $158.85. 3M has a 12 month low of $121.98 and a 12 month high of $174.69. The stock has a market capitalization of $87.79 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.09.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share (EPS) for the quarter. 3M had a return on equity of 98.47% and a net margin of 13.70%.The company had revenue of $8.38 billion for the quarter. 3M has set its FY 2025 guidance at 7.950-8.05 EPS. As a group, analysts predict that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, November 14th. 3M’s dividend payout ratio (DPR) is 46.65%.

Insider Buying and Selling

In other 3M news, EVP Mark W. Murphy sold 19,061 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the completion of the sale, the executive vice president owned 6,594 shares in the company, valued at approximately $1,098,230.70. The trade was a 74.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Zoe L. Dickson sold 13,826 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the completion of the transaction, the executive vice president directly owned 6,162 shares in the company, valued at $1,046,184.36. This trade represents a 69.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,516 shares of company stock worth $7,836,465 over the last ninety days. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On 3M

Institutional investors and hedge funds have recently made changes to their positions in the business. GFG Capital LLC bought a new position in 3M in the 2nd quarter valued at about $28,000. J.Safra Asset Management Corp purchased a new stake in shares of 3M in the third quarter worth approximately $34,000. Westside Investment Management Inc. lifted its holdings in shares of 3M by 77.4% in the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 106 shares in the last quarter. Cloud Capital Management LLC purchased a new position in shares of 3M during the third quarter valued at approximately $50,000. Finally, Collier Financial bought a new stake in 3M during the third quarter worth $52,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

About 3M

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).