1 week Ago By Defense World Staff
Shares of 3M ( NYSE:MMM – Get Free Report ) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $125.00 and traded as high as $130.
05. 3M shares last traded at $129.09, with a volume of 2,219,565 shares changing hands.
Analyst Upgrades and Downgrades A number of research firms have recently commented on MMM. JPMorgan Chase & Co. raised their price objective on 3M from $160.
00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Morgan Stanley started coverage on shares of 3M in a report on Friday, September 6th.
They issued an “underweight” rating and a $125.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of 3M from $130.
00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays raised their target price on shares of 3M from $160.
00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Bank of America upped their price target on shares of 3M from $143.
00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company.
According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.87.
Check Out Our Latest Stock Report on MMM 3M Stock Performance 3M ( NYSE:MMM – Get Free Report ) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.
93 by $0.05. The firm had revenue of $6.
29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.
37% and a return on equity of 104.66%. The firm’s quarterly revenue was down 24.
3% on a year-over-year basis. During the same period in the prior year, the company posted $2.68 earnings per share.
On average, analysts anticipate that 3M will post 7.27 earnings per share for the current year. 3M Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th.
Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.
80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, November 15th.
3M’s dividend payout ratio is presently 35.35%. Institutional Trading of 3M Institutional investors and hedge funds have recently modified their holdings of the business.
State Street Corp lifted its holdings in shares of 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after purchasing an additional 302,900 shares during the last quarter.
FMR LLC lifted its stake in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter.
Pacer Advisors Inc. boosted its holdings in shares of 3M by 2.0% during the second quarter.
Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock valued at $506,135,000 after acquiring an additional 97,340 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 3M by 1.
2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after acquiring an additional 43,942 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of 3M by 18.
6% in the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after acquiring an additional 396,773 shares during the period. 65.
25% of the stock is owned by institutional investors and hedge funds. 3M Company Profile ( Get Free Report ) 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.
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