3M Company (NYSE:MMM) had its price objective decreased by stock analysts at Citigroup Inc. to $204.00 in a note issued to investors on Wednesday. Citigroup Inc.’s price objective would suggest a potential upside of 15.93% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus increased their price target on shares of 3M Company from $187.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday. Zacks Investment Research raised shares of 3M Company from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. RBC Capital Markets raised shares of 3M Company from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $155.00 to $171.00 in a research note on Wednesday, December 7th. Royal Bank Of Canada raised shares of 3M Company from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $155.00 to $171.00 in a research note on Wednesday, December 7th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of 3M Company in a research note on Wednesday, December 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $175.71.
3M Company (NYSE:MMM) traded up 1.06% during midday trading on Wednesday, hitting $177.84. 998,528 shares of the stock traded hands. The company’s 50-day moving average is $177.70 and its 200-day moving average is $175.83. The company has a market cap of $106.96 billion, a PE ratio of 22.42 and a beta of 1.05. 3M Company has a one year low of $144.05 and a one year high of $182.27.
3M Company (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 24th. The company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.01. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.35 billion. 3M Company had a net margin of 16.40% and a return on equity of 42.27%. 3M Company’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 earnings per share. Equities research analysts expect that 3M Company will post $8.16 EPS for the current fiscal year.
In other 3M Company news, insider Michael F. Roman sold 4,036 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $180.00, for a total transaction of $726,480.00. Following the completion of the transaction, the insider now directly owns 9,971 shares of the company’s stock, valued at approximately $1,794,780. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Eric D. Hammes sold 504 shares of the firm’s stock in a transaction 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. Over the last ninety days, insiders have sold 26,171 shares of company stock valued at $4,489,078. Company insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in MMM. Russell Investments Group Ltd. bought a new position in shares of 3M Company during the fourth quarter valued at $156,002,000. Vanguard Group Inc. raised its position in shares of 3M Company 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 in the last quarter. Bank of Montreal Can bought a new position in shares of 3M Company during the second quarter valued at $135,349,000. Ameriprise Financial Inc. raised its position in shares of 3M Company 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 in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of 3M Company during the third quarter valued at $108,752,000. 65.08% of the stock is owned by institutional investors.
About 3M Company
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.