3M (NYSE:MMM – Free Report) had its price target increased by Royal Bank Of Canada from $123.00 to $132.00 in a report released on Wednesday, MarketBeat.com reports. They currently have an underperform rating on the conglomerate’s stock.
Several other research analysts have also commented on MMM. Citigroup lifted their price objective on shares of 3M from $166.00 to $183.00 and gave the stock a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group raised shares of 3M to a “buy” rating and set a $190.00 target price on the stock in a research note on Monday, June 15th. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $178.00 to $180.00 in a report on Friday, July 17th. Wells Fargo & Company lifted their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.21.
Read Our Latest Research Report on 3M
3M Price Performance
3M (NYSE:MMM – Get Free Report) last released its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities analysts forecast that 3M will post 8.93 EPS for the current year.
3M Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 22nd. 3M’s payout ratio is currently 55.42%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Retirement Investments LLC purchased a new stake in 3M in the 4th quarter valued at about $28,000. EQ Wealth Advisors LLC purchased a new position in shares of 3M during the fourth quarter worth approximately $40,000. Sfam LLC purchased a new position in shares of 3M during the fourth quarter worth approximately $45,000. Cornerstone Planning Group LLC raised its stake in shares of 3M by 32.1% during the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 71 shares in the last quarter. Finally, West Paces Advisors Inc. purchased a new stake in shares of 3M in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.
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).
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