3M (NYSE:MMM) Price Target Lowered to $162.00 at JPMorgan Chase & Co.

3M (NYSE:MMM) had its target price cut by JPMorgan Chase & Co. from $165.00 to $162.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

Other equities analysts also recently issued reports about the company. Bank of America upped their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and upped their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Wells Fargo & Company upped their price target on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays lowered their price target on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.13.

3M Stock Up 0.3 %

Shares of MMM opened at $138.20 on Wednesday. The firm has a market cap of $75.26 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company’s 50-day moving average price is $130.90 and its 200 day moving average price is $127.12. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the previous year, the company posted $2.68 EPS. 3M’s revenue was down 24.3% compared to the same quarter last year. On average, sell-side analysts forecast 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 dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.03%. 3M’s dividend payout ratio is presently 35.35%.

Institutional Investors Weigh In On 3M

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clarius Group LLC bought a new stake in shares of 3M in the 4th quarter valued at approximately $220,000. J2 Capital Management Inc bought a new stake in shares of 3M in the 4th quarter valued at approximately $451,000. Aaron Wealth Advisors LLC increased its holdings in shares of 3M by 11.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,835 shares of the conglomerate’s stock valued at $366,000 after acquiring an additional 286 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in shares of 3M by 8.4% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,850 shares of the conglomerate’s stock valued at $239,000 after acquiring an additional 144 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in 3M by 1.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 15,636 shares of the conglomerate’s stock worth $2,018,000 after buying an additional 195 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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.