3M (NYSE:MMM) had its price target decreased by UBS Group from $201.00 to $182.00 in a research report released on Friday, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the conglomerate’s stock.

Several other brokerages also recently issued reports on MMM. Zacks Investment Research raised shares of Green Brick Partners from a sell rating to a hold rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. set a $195.00 price target on shares of bluebird bio and gave the company a buy rating in a report on Friday, May 17th. Royal Bank of Canada downgraded shares of 3M from an outperform rating to a sector perform rating and cut their price target for the company from $207.00 to $176.00 in a report on Monday, July 8th. Wolfe Research set a $205.00 price target on shares of Raytheon and gave the company a buy rating in a report on Friday, April 26th. Finally, Argus lifted their price target on shares of Waste Management from $110.00 to $115.00 and gave the company a buy rating in a report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. 3M has a consensus rating of Hold and a consensus target price of $184.25.

NYSE:MMM opened at $172.84 on Friday. The stock’s 50-day simple moving average is $168.94. The company has a market cap of $99.92 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09. 3M has a 52 week low of $159.32 and a 52 week high of $219.75. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.60.

3M (NYSE:MMM) last released its quarterly earnings data on Thursday, April 25th. The conglomerate reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). The business had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $8.02 billion. 3M had a return on equity of 57.42% and a net margin of 17.43%. 3M’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 earnings per share. As a group, equities research analysts predict that 3M will post 9.29 earnings per share for the current fiscal year.

In related news, Director Gregory R. Page acquired 1,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was purchased at an average price of $179.60 per share, for a total transaction of $179,600.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $538,800. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Joaquin Delgado sold 5,400 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $169.68, for a total transaction of $916,272.00. Following the completion of the sale, the insider now owns 28,092 shares of the company’s stock, valued at approximately $4,766,650.56. The disclosure for this sale can be found here. Insiders have purchased a total of 3,200 shares of company stock valued at $559,260 over the last three months. 0.83% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of 3M by 3.0% during the 4th quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock worth $7,435,433,000 after buying an additional 1,152,714 shares during the period. Northern Trust Corp grew its position in shares of 3M by 2.4% during the 4th quarter. Northern Trust Corp now owns 8,011,899 shares of the conglomerate’s stock worth $1,526,587,000 after buying an additional 186,257 shares during the period. Geode Capital Management LLC grew its position in shares of 3M by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 7,416,248 shares of the conglomerate’s stock worth $1,410,584,000 after buying an additional 353,754 shares during the period. Norges Bank acquired a new stake in shares of 3M during the 4th quarter worth approximately $918,305,000. Finally, Legal & General Group Plc grew its position in shares of 3M by 6.4% during the 4th quarter. Legal & General Group Plc now owns 2,853,554 shares of the conglomerate’s stock worth $543,682,000 after buying an additional 171,980 shares during the period. Hedge funds and other institutional investors own 66.62% of the company’s stock.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Analyst Recommendations for 3M (NYSE:MMM)

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