Trade Report: Today, 3M Co. (MMM) Rating Decreased to Sell at Goldman Sachs Group Inc.

Today, 3M Co. (MMM) Rating Decreased to Sell at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut shares of 3M Co. (NYSE:MMM) from a neutral rating to a sell rating in a report released on Monday. Goldman Sachs Group Inc. currently has $159.00 target price on the stock, down from their previous target price of $172.96.

Several other analysts also recently issued reports on MMM. Zacks Investment Research downgraded shares of 3M from a hold rating to a sell rating in a report on Friday, October 28th. Jefferies Group reaffirmed a buy rating on shares of 3M in a report on Thursday, August 4th. Credit Suisse Group AG reaffirmed an outperform rating and issued a $186.00 price target (up previously from $178.00) on shares of 3M in a report on Thursday, July 28th. RBC Capital Markets reaffirmed an underperform rating and issued a $155.00 price target (down previously from $159.00) on shares of 3M in a report on Wednesday, October 26th. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $164.00 price target on shares of 3M in a report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $170.80.

3M (NYSE:MMM) opened at 172.25 on Monday. The company’s 50 day moving average is $169.96 and its 200-day moving average is $173.76. The stock has a market cap of $103.60 billion, a PE ratio of 21.72 and a beta of 1.04. 3M has a 52-week low of $134.64 and a 52-week high of $182.27.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 25th. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.01. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.72 billion. 3M had a net margin of 16.40% and a return on equity of 42.27%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, equities analysts anticipate that 3M will post $8.17 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be paid a dividend of $1.11 per share. The ex-dividend date is Wednesday, November 16th. This represents a $4.44 annualized dividend and a yield of 2.58%. 3M’s dividend payout ratio is currently 55.92%.

In other 3M news, insider Julie L. Bushman sold 10,771 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $166.71, for a total transaction of $1,795,633.41. Following the completion of the sale, the insider now directly owns 34,093 shares in the company, valued at $5,683,644.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eric D. Hammes sold 504 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $173.69, for a total transaction of $87,539.76. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new stake in 3M during the second quarter valued at about $179,251,000. Vanguard Group Inc. increased its position in shares of 3M by 2.0% in the second quarter. Vanguard Group Inc. now owns 42,183,048 shares of the company’s stock valued at $7,387,096,000 after buying an additional 822,712 shares during the period. Bank of Montreal Can purchased a new position in shares of 3M during the second quarter valued at $135,349,000. Ameriprise Financial Inc. increased its position in shares of 3M by 69.6% in the third quarter. Ameriprise Financial Inc. now owns 1,789,729 shares of the company’s stock valued at $315,408,000 after buying an additional 734,451 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of 3M during the third quarter valued at $108,752,000. Institutional investors own 65.53% of the company’s stock.

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