3M (NYSE:MMM) has been assigned a $179.00 target price by equities researchers at Royal Bank of Canada in a research note issued to investors on Friday, TipRanks reports. The firm presently has a “hold” rating on the conglomerate’s stock. Royal Bank of Canada’s target price points to a potential upside of 2.89% from the stock’s previous close.

Several other equities analysts also recently weighed in on MMM. Zacks Investment Research raised Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Deutsche Bank raised their price objective on Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Citigroup raised Atara Biotherapeutics from a “sell” rating to a “neutral” rating and raised their price objective for the company from $23.00 to $24.00 in a research note on Monday, June 3rd. Credit Suisse Group set a €59.00 ($68.60) target price on Renault and gave the company a “neutral” rating in a report on Friday. Finally, Argus increased their target price on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. 3M currently has an average rating of “Hold” and an average price target of $182.33.

NYSE MMM traded down $4.15 during mid-day trading on Friday, hitting $173.98. The stock had a trading volume of 4,014,037 shares, compared to its average volume of 2,726,612. 3M has a 52-week low of $159.32 and a 52-week high of $219.75. The firm has a market cap of $100.29 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. The stock has a 50 day moving average price of $171.73. The company has a current ratio of 1.93, a quick ratio of 1.38 and a debt-to-equity ratio of 1.47.

3M (NYSE:MMM) last released its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.16. 3M had a return on equity of 55.05% and a net margin of 15.27%. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same period last year, the business posted $2.59 EPS. 3M’s quarterly revenue was down 2.6% on a year-over-year basis. Sell-side analysts expect that 3M will post 9.35 EPS for the current year.

In related news, Director Gregory R. Page bought 1,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $179.60 per share, for a total transaction of $179,600.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $538,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joaquin Delgado sold 5,400 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $169.68, for a total value of $916,272.00. Following the sale, the insider now owns 28,092 shares in the company, valued at approximately $4,766,650.56. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,200 shares of company stock worth $559,260. 0.83% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Physicians Financial Services Inc. boosted its holdings in shares of 3M by 11.7% during the first quarter. Physicians Financial Services Inc. now owns 16,859 shares of the conglomerate’s stock worth $3,503,000 after purchasing an additional 1,763 shares during the last quarter. Steinberg Global Asset Management boosted its holdings in shares of 3M by 52.6% during the first quarter. Steinberg Global Asset Management now owns 4,903 shares of the conglomerate’s stock worth $1,019,000 after purchasing an additional 1,689 shares during the last quarter. Vectors Research Management LLC boosted its holdings in shares of 3M by 16.0% during the fourth quarter. Vectors Research Management LLC now owns 725 shares of the conglomerate’s stock worth $138,000 after purchasing an additional 100 shares during the last quarter. Searle & CO. boosted its holdings in shares of 3M by 3.6% during the first quarter. Searle & CO. now owns 3,643 shares of the conglomerate’s stock worth $757,000 after purchasing an additional 126 shares during the last quarter. Finally, Maple Capital Management Inc. boosted its holdings in shares of 3M by 15.7% during the fourth quarter. Maple Capital Management Inc. now owns 8,108 shares of the conglomerate’s stock worth $1,545,000 after purchasing an additional 1,102 shares during the last quarter. Institutional investors and hedge funds own 66.62% of the company’s stock.

About 3M

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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Analyst Recommendations for 3M (NYSE:MMM)

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