3M (NYSE:MMM) PT Lowered to $182.00 at UBS Group
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.
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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