ValuEngine cut shares of 3M (NYSE:MMM) from a buy rating to a hold rating in a research report released on Friday.

Several other research analysts have also commented on the stock. Zacks Investment Research raised shares of 3M from a hold rating to a buy rating and set a $258.00 price objective for the company in a research note on Tuesday, November 7th. Goldman Sachs Group reissued a sell rating on shares of 3M in a research note on Thursday, October 26th. Citigroup boosted their target price on shares of 3M from $250.00 to $262.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Jefferies Group boosted their target price on shares of 3M to $262.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Finally, Bank of America boosted their target price on shares of 3M from $227.00 to $257.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $231.16.

3M (NYSE MMM) traded down $1.99 during midday trading on Friday, reaching $241.15. 2,232,200 shares of the company’s stock traded hands, compared to its average volume of 1,838,657. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. The stock has a market capitalization of $143,630.91, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. 3M has a 52 week low of $171.09 and a 52 week high of $243.63.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. 3M’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.15 earnings per share. research analysts anticipate that 3M will post 9.08 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be issued a $0.0118 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a dividend yield of 0.02%. 3M’s payout ratio is currently 52.51%.

In related news, insider Jon T. Lindekugel sold 400 shares of 3M stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $230.06, for a total value of $92,024.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Inge G. Thulin sold 6,823 shares of 3M stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.14, for a total value of $1,590,714.22. Following the completion of the sale, the chairman now owns 196,906 shares of the company’s stock, valued at $45,906,664.84. The disclosure for this sale can be found here. Insiders sold 22,804 shares of company stock valued at $5,303,706 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in MMM. Karp Capital Management Corp raised its holdings in 3M by 16,353.8% in the first quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock worth $94,947,000 after purchasing an additional 493,230 shares in the last quarter. Capital Research Global Investors bought a new position in 3M in the second quarter worth about $89,237,000. State of Tennessee Treasury Department raised its holdings in 3M by 92.6% in the first quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock worth $87,828,000 after purchasing an additional 220,741 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in 3M by 3.9% in the first quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock worth $844,511,000 after purchasing an additional 167,491 shares in the last quarter. Finally, PGGM Investments bought a new position in 3M in the second quarter worth about $32,606,000. Institutional investors and hedge funds own 66.33% of the company’s stock.

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3M Company Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for 3M (NYSE:MMM)

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