3M (NYSE:MMM) Rating Reiterated by Mizuho

3M (NYSE:MMM)‘s stock had its “neutral” rating restated by Mizuho in a report issued on Wednesday, Benzinga reports. They presently have a $105.00 price target on the conglomerate’s stock. Mizuho’s target price points to a potential downside of 0.99% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. StockNews.com initiated coverage on 3M in a report on Wednesday. They set a “buy” rating for the company. Royal Bank of Canada restated an “underperform” rating and issued a $84.00 target price on shares of 3M in a research note on Wednesday, March 20th. Citigroup reduced their target price on 3M from $117.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Wells Fargo & Company cut their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Finally, Barclays upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $111.00 to $126.00 in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $107.60.

3M Price Performance

Shares of MMM opened at $106.05 on Wednesday. The stock has a market capitalization of $58.61 billion, a P/E ratio of -8.40, a P/E/G ratio of 1.45 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a twelve month low of $85.35 and a twelve month high of $113.14. The company has a 50 day moving average of $96.86 and a 200-day moving average of $97.78.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts forecast that 3M will post 9.77 EPS for the current fiscal year.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its holdings in 3M by 73,903.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,656,588 shares of the conglomerate’s stock valued at $798,258,000 after buying an additional 6,647,593 shares during the last quarter. Norges Bank acquired a new stake in shares of 3M during the fourth quarter worth about $502,585,000. Pacer Advisors Inc. lifted its position in 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after purchasing an additional 3,508,334 shares during the period. Balyasny Asset Management L.P. lifted its position in 3M by 313.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock valued at $289,803,000 after purchasing an additional 2,010,319 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of 3M by 1,889.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,356,600 shares of the conglomerate’s stock worth $201,971,000 after purchasing an additional 1,288,400 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.