Weiss Ratings Reiterates Hold (C) Rating for 3M (NYSE:MMM)

3M (NYSE:MMM)‘s stock had its “hold (c)” rating reissued by investment analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

MMM has been the subject of a number of other reports. Mizuho boosted their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Barclays reduced their price objective on 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.13.

3M Price Performance

MMM traded up $1.84 during trading hours on Friday, hitting $141.02. The company’s stock had a trading volume of 5,717,193 shares, compared to its average volume of 2,528,391. 3M has a 12 month low of $75.40 and a 12 month high of $141.66. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The business’s 50-day moving average price is $131.24 and its 200-day moving average price is $127.74. The stock has a market cap of $76.80 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. Sell-side analysts expect that 3M will post 7.27 earnings per share for the current fiscal year.

Institutional Trading of 3M

Institutional investors have recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in 3M in the 3rd quarter valued at approximately $27,000. Daymark Wealth Partners LLC raised its position in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. ORG Partners LLC grew its position in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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.