Brokerages Set 3M Company (NYSE:MMM) PT at $177.21

3M Company (NYSE:MMM) has received an average recommendation of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $177.2143.

MMM has been the subject of several recent research reports. UBS Group upped their price target on 3M from $190.00 to $218.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $192.00 price objective on shares of 3M in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Jefferies Financial Group lifted their target price on shares of 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. Finally, Wolfe Research restated an “outperform” rating on shares of 3M in a research note on Thursday, July 9th.

Insiders Place Their Bets

In other 3M news, insider Karin Chavez sold 3,635 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the transaction, the insider owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On 3M

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its position in 3M by 16,438.5% in the second quarter. California State Teachers Retirement System now owns 129,994,625 shares of the conglomerate’s stock worth $21,047,430,000 after acquiring an additional 129,208,611 shares during the period. SG Americas Securities LLC raised its stake in shares of 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after buying an additional 2,055,419 shares during the period. Amundi lifted its position in shares of 3M by 67.0% during the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock valued at $734,448,000 after buying an additional 1,819,178 shares during the last quarter. Ascentis Wealth Management LLC grew its stake in shares of 3M by 22,972.5% during the 2nd quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock worth $56,259,000 after acquiring an additional 345,966 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 3M by 7.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock worth $637,202,000 after acquiring an additional 270,458 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Price Performance

Shares of NYSE MMM opened at $164.83 on Friday. The stock has a market cap of $85.00 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.17 and a beta of 1.01. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. 3M has a fifty-two week low of $139.34 and a fifty-two week high of $184.90. The firm’s 50-day simple moving average is $172.02 and its 200 day simple moving average is $159.25.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period in the previous year, the company posted $2.16 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, research analysts anticipate that 3M will post 8.96 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, August 24th. 3M’s dividend payout ratio (DPR) is 55.42%.

3M Company Profile

3M Company is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it initially supplied abrasives and other materials before expanding into a broad range of science-based products and technologies.

The company develops products for industrial, transportation, electronics, safety and consumer markets. Its offerings include personal protective equipment, industrial adhesives and tapes, abrasives, filtration products, electrical materials, automotive solutions, medical and dental products, and consumer brands such as Post-it Notes and Scotch products.