3M Co. (NYSE:MMM) – Research analysts at Jefferies Group upped their FY2018 EPS estimates for shares of 3M in a note issued to investors on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the brokerage will post earnings of $9.75 per share for the year, up from their prior forecast of $9.55. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for 3M’s FY2020 earnings at $12.25 EPS.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group AG reissued a “buy” rating and issued a $195.00 price target on shares of 3M in a report on Friday, September 16th. Deutsche Bank AG reissued a “hold” rating and issued a $164.00 price target on shares of 3M in a report on Thursday, August 25th. Morgan Stanley reissued a “sell” rating and issued a $168.00 price target on shares of 3M in a report on Tuesday, August 23rd. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of 3M in a report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $167.11.
3M (NYSE:MMM) traded down 0.48% on Thursday, hitting $171.56. 1,735,374 shares of the company were exchanged. The stock has a market capitalization of $103.69 billion, a P/E ratio of 21.90 and a beta of 0.99. The stock’s 50-day moving average price is $177.88 and its 200-day moving average price is $173.11. 3M has a 52-week low of $134.64 and a 52-week high of $182.27.
3M (NYSE:MMM) last posted its earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.01. 3M had a net margin of 16.29% and a return on equity of 41.84%. The firm earned $7.70 billion during the quarter, compared to analyst estimates of $7.73 billion. During the same period last year, the firm posted $2.02 earnings per share. 3M’s revenue for the quarter was down .3% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.58%. The ex-dividend date was Wednesday, August 17th. 3M’s payout ratio is currently 56.63%.
In other 3M news, insider Paul A. Keel sold 3,180 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $178.39, for a total value of $567,280.20. Following the completion of the sale, the insider now directly owns 9,961 shares in the company, valued at approximately $1,776,942.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Khandpur K. Ashish sold 1,679 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $178.39, for a total value of $299,516.81. Following the completion of the sale, the vice president now owns 1,011 shares of the company’s stock, valued at $180,352.29. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Sigma Planning Corp boosted its position in 3M by 1.3% in the first quarter. Sigma Planning Corp now owns 8,661 shares of the company’s stock worth $1,443,000 after buying an additional 114 shares in the last quarter. Traynor Capital Management Inc. boosted its position in 3M by 18.9% in the first quarter. Traynor Capital Management Inc. now owns 5,774 shares of the company’s stock worth $962,000 after buying an additional 917 shares in the last quarter. V Wealth Management LLC acquired a new position in 3M during the first quarter worth $273,000. FirstMerit Bank N A Trustee boosted its position in 3M by 17.9% in the first quarter. FirstMerit Bank N A Trustee now owns 45,787 shares of the company’s stock worth $7,630,000 after buying an additional 6,965 shares in the last quarter. Finally, Kelman Lazarov Inc. acquired a new position in 3M during the first quarter worth $839,000. Institutional investors own 65.67% of the company’s stock.
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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