William Blair reaffirmed their market perform rating on shares of 3M Co (NYSE:MMM) in a research report released on Wednesday, AnalystRatings.Net reports. They currently have a $149.00 target price on the stock.

3M (NYSE:MMM) traded down 1.50% during trading on Wednesday, reaching $148.73. 2,701,512 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $145.60 and its 200-day moving average price is $148.83. The company has a market capitalization of $90.63 billion and a price-to-earnings ratio of 19.62. 3M has a 52-week low of $134.00 and a 52-week high of $170.50.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 26th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $7.30 billion for the quarter, compared to analyst estimates of $7.21 billion. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 earnings per share. Equities analysts expect that 3M will post $8.23 earnings per share for the current year.

In other news, VP Marlene Mary Mcgrath sold 9,126 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $159.26, for a total transaction of $1,453,406.76. Following the sale, the vice president now directly owns 10,198 shares in the company, valued at $1,624,133.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several hedge funds have recently added to or reduced their stakes in the stock. First American Trust purchased a new stake in 3M during the fourth quarter worth about $204,000. Hollencrest Securities boosted its stake in 3M by 2.6% in the fourth quarter. Hollencrest Securities now owns 1,779 shares of the company’s stock worth $268,000 after buying an additional 45 shares in the last quarter. CWM LLC boosted its stake in 3M by 40.0% in the fourth quarter. CWM LLC now owns 1,809 shares of the company’s stock worth $273,000 after buying an additional 517 shares in the last quarter. Vicus Capital boosted its stake in 3M by 6.0% in the fourth quarter. Vicus Capital now owns 1,849 shares of the company’s stock worth $279,000 after buying an additional 105 shares in the last quarter. Finally, Founders Capital Management boosted its stake in 3M by 0.4% in the fourth quarter. Founders Capital Management now owns 1,900 shares of the company’s stock worth $286,000 after buying an additional 8 shares in the last quarter.

Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded 3M from a sell rating to a hold rating in a report on Wednesday, November 4th. Citigroup Inc. began coverage on 3M in a report on Thursday, January 21st. They issued a buy rating and a $166.00 target price for the company. Goldman Sachs boosted their target price on 3M from $147.00 to $151.00 and gave the stock a neutral rating in a report on Wednesday, January 27th. Sanford C. Bernstein reduced their target price on 3M from $165.00 to $160.00 and set a market-perform rating for the company in a report on Wednesday, December 16th. Finally, Credit Suisse boosted their target price on 3M from $155.00 to $167.00 and gave the stock an outperform rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $157.27.

3M Company is a diversified technology company. The Company operates in five business segments: Industrial, which serves a range of markets, such as automotive original equipment manufacturer (NYSE:MMM) and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction; Safety and Graphics, which serves a range of markets for the safety, security and productivity of people, facilities and systems; Electronics and Energy, which serves customers in electronics and energy markets, including solutions for electronic devices, telecommunications networks, electrical products, power generation and distribution, and infrastructure protection; Health Care, which serves markets that include medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, and health information systems, and Consumer, which serves markets that include consumer retail, office retail, home improvement, building maintenance and other markets.

12 Month Chart for NYSE:MMM

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