3M (NYSE:MMM) Stock Price Expected to Rise, Barclays Analyst Says

3M (NYSE:MMM) had its price target lifted by Barclays from $161.00 to $165.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the conglomerate’s stock.

A number of other brokerages have also recently commented on MMM. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their price objective for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Bank of America boosted their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Trading Down 0.0 %

Shares of MMM stock opened at $149.61 on Wednesday. 3M has a 1-year low of $75.40 and a 1-year high of $152.08. The company has a market cap of $81.47 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a 50 day simple moving average of $132.43 and a 200-day simple moving average of $128.82.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, equities research analysts expect that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is presently 37.09%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its stake in shares of 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after acquiring an additional 20,421 shares during the period. Franklin Resources Inc. increased its holdings in 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares during the last quarter. Meyer Handelman Co. lifted its stake in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after purchasing an additional 2,678 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after buying an additional 5,210 shares during the period. Finally, Stonegate Investment Group LLC grew its stake in shares of 3M by 5.6% in the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after buying an additional 13,473 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.