Brokerages Set 3M Company (NYSE:MMM) Target Price at $175.36

Shares of 3M Company (NYSE:MMM) have received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $175.3636.

MMM has been the subject of several research reports. Mizuho set a $160.00 price target on shares of 3M in a research report on Wednesday, January 21st. Wells Fargo & Company lowered their target price on 3M from $183.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Morgan Stanley lifted their price target on 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Citigroup decreased their price objective on 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, January 21st. Finally, Weiss Ratings downgraded 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 4th.

Insider Buying and Selling

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the sale, the chief accounting officer directly owned 2,585 shares in the company, valued at $446,558.75. This trade represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Institutional Trading of 3M

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of 3M by 26.6% during the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 1,872 shares in the last quarter. Bison Wealth LLC grew its position in 3M by 10.2% during the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after purchasing an additional 255 shares during the last quarter. Leavell Investment Management Inc. increased its stake in 3M by 1.4% during the 2nd quarter. Leavell Investment Management Inc. now owns 7,335 shares of the conglomerate’s stock valued at $1,117,000 after purchasing an additional 98 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of 3M by 12.0% in the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 40,875 shares of the conglomerate’s stock worth $6,218,000 after buying an additional 4,384 shares during the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of 3M during the second quarter worth $1,303,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM stock opened at $165.68 on Monday. 3M has a twelve month low of $121.98 and a twelve month high of $177.41. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The stock has a fifty day simple moving average of $163.87 and a two-hundred day simple moving average of $161.71. The stock has a market capitalization of $87.27 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 2.33 and a beta of 1.09.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 13th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from 3M’s previous quarterly dividend of $0.73. 3M’s payout ratio is presently 52.00%.

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).