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

3M (NYSE:MMM) had its target price lowered by research analysts at Citigroup from $175.00 to $166.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the conglomerate’s stock. Citigroup’s price target would suggest a potential upside of 10.56% from the company’s current price.

MMM has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on 3M from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group decreased their target price on 3M from $180.00 to $160.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft lifted their target price on 3M from $179.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Finally, Mizuho set a $160.00 target price on 3M in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $169.09.

3M Price Performance

Shares of MMM stock opened at $150.15 on Monday. 3M has a 52-week low of $124.65 and a 52-week high of $177.41. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The firm has a market capitalization of $78.44 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.18 and a beta of 1.09. The stock has a 50 day moving average price of $156.12 and a 200 day moving average price of $160.50.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the company earned $1.68 EPS. 3M’s quarterly revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 5,145 shares of 3M stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total value of $888,798.75. Following the transaction, the chief accounting officer directly owned 2,585 shares in the company, valued at approximately $446,558.75. This trade represents a 66.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MMM. PFA Pension Forsikringsaktieselskab purchased a new position in shares of 3M in the 4th quarter valued at $65,009,000. SG Americas Securities LLC increased its holdings in shares of 3M by 806.1% in the 4th quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock valued at $50,345,000 after acquiring an additional 279,757 shares during the period. Align Financial LLC purchased a new position in shares of 3M in the 4th quarter valued at $4,101,000. Allstate Corp increased its holdings in shares of 3M by 107.1% in the 4th quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock valued at $6,598,000 after acquiring an additional 21,316 shares during the period. Finally, BNP Paribas increased its holdings in shares of 3M by 219.5% in the 4th quarter. BNP Paribas now owns 25,718 shares of the conglomerate’s stock valued at $4,118,000 after acquiring an additional 17,669 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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).