3M (NYSE:MMM)‘s stock had its “sell” rating reiterated by research analysts at Barclays in a report issued on Thursday, June 6th, AnalystRatings.com reports. They currently have a $162.00 price target on the conglomerate’s stock. Barclays‘s price target would suggest a potential downside of 7.17% from the company’s current price.
MMM has been the topic of a number of other reports. Wolfe Research set a $174.00 price objective on shares of 3M and gave the company a “sell” rating in a report on Friday, April 26th. Morgan Stanley decreased their price objective on shares of 3M from $184.00 to $172.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Citigroup set a $221.00 price objective on shares of 3M and gave the stock a “buy” rating in a research report on Friday, April 26th. Deutsche Bank reduced their price target on shares of 3M from $188.00 to $183.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research report on Friday, March 29th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $191.15.
Shares of 3M stock traded up $1.17 on Thursday, hitting $174.51. 2,015,641 shares of the company traded hands, compared to its average volume of 2,762,415. The company has a 50 day moving average of $168.38. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.38 and a current ratio of 2.02. 3M has a 52 week low of $159.32 and a 52 week high of $219.75. The stock has a market cap of $99.92 billion, a P/E ratio of 16.68, a PEG ratio of 1.83 and a beta of 1.09.
In other 3M news, insider Joaquin Delgado sold 5,400 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $169.68, for a total transaction of $916,272.00. Following the transaction, the insider now directly owns 28,092 shares of the company’s stock, valued at approximately $4,766,650.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page acquired 1,000 shares of the stock in a transaction on Thursday, May 9th. The shares were acquired at an average cost of $176.26 per share, for a total transaction of $176,260.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $705,040. The disclosure for this purchase can be found here. Insiders bought a total of 3,200 shares of company stock worth $559,260 over the last 90 days. Company insiders own 0.83% of the company’s stock.
Several large investors have recently modified their holdings of MMM. BlackRock Inc. increased its position in 3M by 3.0% during the fourth quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock worth $7,435,433,000 after purchasing an additional 1,152,714 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in 3M by 17,350.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock worth $141,000 after buying an additional 26,742,875 shares during the period. Northern Trust Corp grew its stake in 3M by 2.4% during the fourth quarter. Northern Trust Corp now owns 8,011,899 shares of the conglomerate’s stock worth $1,526,587,000 after buying an additional 186,257 shares during the period. Geode Capital Management LLC grew its stake in 3M by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 7,416,248 shares of the conglomerate’s stock worth $1,410,584,000 after buying an additional 353,754 shares during the period. Finally, Norges Bank purchased a new stake in 3M during the fourth quarter worth approximately $918,305,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More: What is an SEC Filing?
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.