3M (NYSE:MMM) PT Raised to $100.00

3M (NYSE:MMM) had its target price increased by investment analysts at UBS Group from $98.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the conglomerate’s stock. UBS Group’s price objective points to a potential upside of 2.92% from the stock’s current price.

MMM has been the subject of a number of other reports. Royal Bank of Canada decreased their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. Citigroup boosted their price objective on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $110.00 to $111.00 in a research report on Wednesday. Finally, Barclays cut their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $103.70.

3M Stock Up 0.4 %

MMM traded up $0.35 on Wednesday, hitting $97.16. The company had a trading volume of 4,818,543 shares, compared to its average volume of 5,905,956. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 0.76. The stock has a fifty day simple moving average of $96.05 and a 200-day simple moving average of $97.54. 3M has a 52-week low of $71.12 and a 52-week high of $99.70. The firm has a market capitalization of $53.76 billion, a P/E ratio of -7.64, a P/E/G ratio of 2.17 and a beta of 1.00.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the previous year, the firm posted $1.97 EPS. As a group, equities analysts expect that 3M will post 7.05 EPS for the current fiscal year.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Institutional investors have recently bought and sold shares of the company. Tributary Capital Management LLC purchased a new position in shares of 3M in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of 3M in the first quarter worth $32,000. Livelsberger Financial Advisory purchased a new position in shares of 3M in the fourth quarter worth $35,000. Finally, CGC Financial Services LLC raised its holdings in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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.