3M (NYSE:MMM) Upgraded to “Strong-Buy” at StockNews.com

3M (NYSE:MMM) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Other equities analysts have also issued reports about the company. Wells Fargo & Company reduced their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Barclays reduced their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their price target on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Citigroup raised their price target on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Bank of America reduced their price target on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $104.00.

3M Stock Performance

NYSE:MMM opened at $90.95 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The stock has a market cap of $50.33 billion, a P/E ratio of -7.20, a PEG ratio of 1.61 and a beta of 1.02. The business’s 50-day moving average price is $95.81 and its two-hundred day moving average price is $97.26. 3M has a twelve month low of $71.12 and a twelve month high of $95.67.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 EPS. As a group, equities analysts predict that 3M will post 8.79 EPS for the current fiscal year.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Fragasso Group Inc. raised its stake in 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock worth $239,000 after acquiring an additional 93 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in 3M by 1.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 7,941 shares of the conglomerate’s stock worth $1,182,000 after acquiring an additional 98 shares during the last quarter. McIlrath & Eck LLC raised its stake in 3M by 13.3% in the 4th quarter. McIlrath & Eck LLC now owns 836 shares of the conglomerate’s stock worth $100,000 after acquiring an additional 98 shares during the last quarter. Vestcor Inc raised its stake in 3M by 0.8% in the 4th quarter. Vestcor Inc now owns 13,133 shares of the conglomerate’s stock worth $1,575,000 after acquiring an additional 102 shares during the last quarter. Finally, Bangor Savings Bank raised its stake in shares of 3M by 1.0% during the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock valued at $1,147,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Company Profile

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.