3M (NYSE:MMM) had its price objective reduced by Credit Suisse Group from $180.00 to $179.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the conglomerate’s stock.
Several other equities analysts also recently issued reports on the stock. Deutsche Bank boosted their price target on shares of 3M from $158.00 to $163.00 and gave the company a hold rating in a report on Wednesday, April 29th. Zacks Investment Research upgraded shares of 3M from a sell rating to a hold rating and set a $133.00 target price for the company in a research report on Thursday, April 30th. Barclays raised their price target on shares of 3M from $156.00 to $157.00 and gave the company an underweight rating in a research note on Wednesday. Citigroup boosted their price objective on 3M from $146.00 to $170.00 and gave the stock a neutral rating in a research report on Wednesday, April 29th. Finally, Langenberg & Company upgraded 3M to a buy rating and set a $180.00 target price on the stock in a research report on Thursday, April 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. 3M presently has an average rating of Hold and an average target price of $164.15.
MMM stock traded down $1.65 during midday trading on Wednesday, reaching $150.47. The company had a trading volume of 3,266,644 shares, compared to its average volume of 2,588,002. The firm has a market capitalization of $87.62 billion, a PE ratio of 17.06, a P/E/G ratio of 1.96 and a beta of 0.99. The stock has a 50 day moving average price of $156.57 and a 200 day moving average price of $153.55. 3M has a fifty-two week low of $114.04 and a fifty-two week high of $182.54. The company has a quick ratio of 1.19, a current ratio of 1.94 and a debt-to-equity ratio of 1.82.
In other news, EVP Khandpur K. Ashish sold 3,605 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $146.85, for a total value of $529,394.25. Following the completion of the sale, the executive vice president now owns 19,193 shares in the company, valued at $2,818,492.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ty R. Silberhorn sold 14,623 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $146.46, for a total value of $2,141,684.58. Following the transaction, the senior vice president now directly owns 16,571 shares of the company’s stock, valued at approximately $2,426,988.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,290 shares of company stock worth $4,757,036. 0.42% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Tsfg LLC increased its position in 3M by 52.7% during the first quarter. Tsfg LLC now owns 200 shares of the conglomerate’s stock worth $27,000 after buying an additional 69 shares during the last quarter. PARK CIRCLE Co purchased a new stake in 3M in the first quarter valued at approximately $27,000. Cascade Investment Advisors Inc. purchased a new position in shares of 3M during the first quarter worth $28,000. Stonebridge Financial Planning Group LLC grew its stake in shares of 3M by 211.3% in the first quarter. Stonebridge Financial Planning Group LLC now owns 221 shares of the conglomerate’s stock valued at $33,000 after buying an additional 150 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new stake in shares of 3M in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.
3M Company Profile
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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