3M (NYSE:MMM) PT Raised to $100.00 at UBS Group

3M (NYSE:MMM) had its target price lifted by equities researchers at UBS Group from $98.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the conglomerate’s stock. UBS Group’s price objective indicates a potential upside of 0.58% from the stock’s current price.

A number of other equities research analysts have also commented on MMM. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $111.00 in a research report on Wednesday. Citigroup increased 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. Mizuho restated a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Bank of America decreased 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. Finally, Royal Bank of Canada dropped their target price on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.60.

3M Stock Up 3.0 %

Shares of NYSE:MMM traded up $2.91 on Wednesday, reaching $99.42. The company had a trading volume of 5,126,922 shares, compared to its average volume of 5,839,545. 3M has a twelve month low of $71.12 and a twelve month high of $99.70. The stock has a 50-day moving average price of $95.82 and a 200 day moving average price of $97.54. The stock has a market capitalization of $55.02 billion, a P/E ratio of -7.85, a P/E/G ratio of 1.75 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating the consensus estimate of $2.10 by $0.29. The firm had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. During the same quarter in the prior year, the firm posted $1.97 EPS. On average, equities analysts expect that 3M will post 8.19 EPS for the current year.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of 3M

A number of institutional investors have recently bought and sold shares of the business. Fragasso Group Inc. grew its stake in 3M by 3.8% during the third quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after acquiring an additional 93 shares in the last quarter. Bangor Savings Bank grew its stake in 3M by 1.0% in the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock worth $1,147,000 after buying an additional 104 shares in the last quarter. Allen Capital Group LLC grew its stake in 3M by 0.5% in the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock worth $2,288,000 after buying an additional 105 shares in the last quarter. Summit Financial Group Inc. grew its stake in 3M by 3.4% in the 1st quarter. Summit Financial Group Inc. now owns 3,316 shares of the conglomerate’s stock worth $352,000 after buying an additional 110 shares in the last quarter. Finally, N.E.W. Advisory Services LLC grew its stake in 3M by 4.0% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock worth $272,000 after buying an additional 111 shares in the last quarter. 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.