3M Co (NYSE:MMM)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $172.16 and last traded at $171.54, with a volume of 2622566 shares. The stock had previously closed at $175.21.

A number of brokerages have commented on MMM. Wolfe Research set a $174.00 price objective on shares of 3M and gave the stock a “sell” rating in a research note on Friday, April 26th. Citigroup set a $221.00 price objective on shares of 3M and gave the stock a “buy” rating in a research note on Friday, April 26th. Deutsche Bank dropped their price objective on shares of 3M from $188.00 to $183.00 and set a “hold” rating for the company in a research note on Friday, April 26th. JPMorgan Chase & Co. dropped their price objective on shares of 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research note on Friday, March 29th. Finally, Morgan Stanley set a $184.00 price objective on shares of 3M and gave the stock a “hold” rating in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. 3M presently has a consensus rating of “Hold” and an average price target of $197.92.

The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $101.00 billion, a P/E ratio of 16.43, a PEG ratio of 1.81 and a beta of 0.99.

3M (NYSE:MMM) last released its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). 3M had a return on equity of 57.42% and a net margin of 17.43%. The firm had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $8.02 billion. During the same period in the prior year, the firm posted $2.50 earnings per share. 3M’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, analysts predict that 3M Co will post 9.45 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be paid a dividend of $1.44 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.35%. 3M’s dividend payout ratio is presently 55.07%.

In related news, EVP Joaquin Delgado sold 4,897 shares of 3M stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $207.30, for a total transaction of $1,015,148.10. Following the completion of the sale, the executive vice president now owns 23,191 shares in the company, valued at approximately $4,807,494.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $179.60 per share, with a total value of $179,600.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at $538,800. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV lifted its holdings in 3M by 202.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock valued at $31,000 after buying an additional 101 shares in the last quarter. Cordasco Financial Network raised its holdings in shares of 3M by 220.0% in the 1st quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 110 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in shares of 3M in the 1st quarter valued at about $33,000. Capital Financial Planning LLC bought a new stake in shares of 3M in the 4th quarter valued at about $34,000. Finally, Penserra Capital Management LLC bought a new stake in shares of 3M in the 4th quarter valued at about $35,000. Institutional investors own 67.11% of the company’s stock.

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3M Company Profile (NYSE:MMM)

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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