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.