3M (NYSE:MMM – Get Free Report) was upgraded by Sanford C. Bernstein to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.
Several other equities analysts have also recently issued reports on MMM. HSBC boosted their price target on 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Barclays lowered their target price on 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group upped their price target on 3M from $160.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. decreased their price target on 3M from $182.00 to $178.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Finally, Citigroup lowered their price objective on shares of 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $168.08.
Read Our Latest Stock Analysis on MMM
3M Stock Up 0.3%
3M (NYSE:MMM – Get Free Report) last posted its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Analysts anticipate that 3M will post 8.7 EPS for the current year.
Institutional Trading of 3M
Several hedge funds have recently made changes to their positions in the company. L & S Advisors Inc lifted its stake 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 period. SG Americas Securities LLC lifted its stake in shares of 3M by 806.1% in the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock valued at $50,345,000 after purchasing an additional 279,757 shares during the period. Inspire Trust Co. N.A. lifted its stake 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 period. FSA Advisors Inc. acquired a new stake in shares of 3M in the fourth quarter valued at about $1,625,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of 3M in the fourth quarter valued at about $65,009,000. Institutional investors and hedge funds 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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