MMM has been the topic of several other reports. Zacks Investment Research raised 3M from a hold rating to a buy rating and set a $213.00 price objective on the stock in a research note on Wednesday, March 29th. Vetr raised 3M from a sell rating to a hold rating and set a $183.19 price objective on the stock in a research note on Friday, April 14th. Morgan Stanley reaffirmed an underweight rating and issued a $191.00 price objective (down from $193.00) on shares of 3M in a research note on Monday, July 10th. Credit Suisse Group reiterated a buy rating on shares of 3M in a report on Thursday, April 27th. Finally, Jefferies Group LLC raised their target price on 3M from $210.00 to $219.00 and gave the company a buy rating in a report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. 3M presently has an average rating of Hold and an average target price of $201.55.
Shares of 3M (NYSE MMM) traded up 0.30% on Wednesday, hitting $212.73. 459,909 shares of the stock traded hands. 3M has a 12 month low of $163.85 and a 12 month high of $214.57. The company has a market cap of $127.05 billion, a PE ratio of 25.73 and a beta of 1.09. The firm’s 50 day moving average is $209.61 and its 200-day moving average is $193.44.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 25th. The conglomerate reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.09. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.48 billion. 3M had a return on equity of 44.95% and a net margin of 16.78%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.95 earnings per share. Equities analysts predict that 3M will post $8.98 earnings per share for the current year.
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In related news, VP Marlene Mary Mcgrath sold 14,766 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the completion of the transaction, the vice president now owns 24,480 shares of the company’s stock, valued at approximately $4,770,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kimberly F. Price sold 3,016 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $198.11, for a total value of $597,499.76. Following the transaction, the insider now directly owns 9,292 shares of the company’s stock, valued at approximately $1,840,838.12. The disclosure for this sale can be found here. Insiders sold 33,698 shares of company stock worth $6,593,443 in the last 90 days. Corporate insiders own 0.58% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in 3M by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock valued at $1,309,651,000 after buying an additional 300,345 shares in the last quarter. First Eagle Investment Management LLC boosted its position 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 valued at $844,511,000 after buying an additional 167,491 shares during the period. Ameriprise Financial Inc. boosted its position in 3M by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock valued at $626,792,000 after buying an additional 8,239 shares during the period. American Century Companies Inc. boosted its position in 3M by 37.1% in the first quarter. American Century Companies Inc. now owns 3,148,266 shares of the conglomerate’s stock valued at $602,358,000 after buying an additional 852,262 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in 3M by 3.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,796,201 shares of the conglomerate’s stock valued at $534,998,000 after buying an additional 92,789 shares during the period. 65.74% of the stock is owned by institutional investors and hedge funds.
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, electronics, 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.
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