Several other research analysts also recently weighed in on MMM. Citigroup increased their price target on shares of 3M from $100.00 to $133.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Mizuho raised their price objective on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Argus upgraded shares of 3M from a "hold" rating to a "buy" rating and set a $145.00 price objective on the stock in a research report on Tuesday, July 30th. Wells Fargo & Company raised their price objective on shares of 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada raised their price objective on shares of 3M from $93.00 to $95.00 and gave the company an "underperform" rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $133.87.

Check Out Our Latest Analysis on MMM

MMM stock traded down $2.71 on Tuesday, hitting $132.13. The company had a trading volume of 7,331,193 shares, compared to its average volume of 4,908,921. 3M has a 12-month low of $71.12 and a 12-month high of $141.12. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The stock's 50-day simple moving average is $132.90 and its 200 day simple moving average is $113.18. The stock has a market cap of $73.12 billion, a price-to-earnings ratio of -10.39, a P/E/G ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the firm earned $2.17 earnings per share. As a group, equities research analysts expect that 3M will post 7.24 earnings per share for the current fiscal year.

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company's stock, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company's stock, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares of the company's stock, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of 3M by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,461,361 shares of the conglomerate's stock valued at $5,246,367,000 after purchasing an additional 377,703 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 3M by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate's stock valued at $517,617,000 after purchasing an additional 533,520 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of 3M by 2.0% in the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate's stock valued at $506,135,000 after purchasing an additional 97,340 shares in the last quarter. AQR Capital Management LLC raised 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 valued at $258,686,000 after purchasing an additional 396,773 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of 3M by 8.2% in the 1st quarter. Nordea Investment Management AB now owns 2,168,811 shares of the conglomerate's stock valued at $228,875,000 after purchasing an additional 164,236 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

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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