3M (NYSE:MMM) Price Target Raised to $146.00

3M (NYSE:MMM) had its price objective hoisted by analysts at Mizuho from $105.00 to $146.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the conglomerate’s stock. Mizuho’s target price suggests a potential upside of 7.05% from the company’s previous close.

MMM has been the subject of several other reports. Morgan Stanley initiated coverage on 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. Bank of America boosted their price target on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Barclays boosted their target price on shares of 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $130.57.

3M Price Performance

3M stock opened at $136.39 on Thursday. The firm has a market cap of $75.47 billion, a P/E ratio of -10.72, a P/E/G ratio of 2.49 and a beta of 0.95. The stock’s 50 day moving average is $132.24 and its 200 day moving average is $112.14. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a one year low of $71.12 and a one year high of $140.72.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm posted $2.17 EPS. As a group, research analysts expect that 3M will post 7.24 EPS for the current year.

Insider Buying and Selling at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Institutional investors have recently added to or reduced their stakes in the company. Ausdal Financial Partners Inc. boosted its stake in shares of 3M by 6.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after buying an additional 249 shares during the last quarter. Candriam S.C.A. boosted its position in 3M by 19.2% in the second quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock worth $3,931,000 after purchasing an additional 6,185 shares during the last quarter. True Vision MN LLC bought a new position in 3M in the 2nd quarter valued at $512,000. Clifford Capital Partners LLC increased its position in shares of 3M by 21.3% during the 2nd quarter. Clifford Capital Partners LLC now owns 171,152 shares of the conglomerate’s stock valued at $17,490,000 after purchasing an additional 30,009 shares during the last quarter. Finally, Albar Capital Ltd bought a new stake in shares of 3M during the 2nd quarter worth $7,319,000. 65.25% of the stock is owned by institutional investors.

About 3M

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.