3M (NYSE:MMM) Sets New 12-Month Low at $155.37

3M Co (NYSE:MMM) shares hit a new 52-week low on Friday . The stock traded as low as $155.37 and last traded at $155.37, with a volume of 99296 shares trading hands. The stock had previously closed at $160.88.

Several equities analysts recently weighed in on MMM shares. UBS Group cut their price objective on shares of 3M from $201.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada set a $179.00 price objective on shares of 3M and gave the company a “hold” rating in a research report on Friday, July 26th. Gordon Haskett lowered shares of 3M from a “buy” rating to a “hold” rating and set a $191.98 price objective on the stock. in a research report on Monday, April 29th. Citigroup cut their price objective on shares of 3M from $221.00 to $197.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Finally, Wolfe Research set a $174.00 price objective on shares of 3M and gave the company a “sell” rating in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. 3M presently has an average rating of “Hold” and an average target price of $182.54.

The company has a market cap of $92.63 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. The company has a quick ratio of 1.34, a current ratio of 1.93 and a debt-to-equity ratio of 1.53. The stock’s 50-day moving average price is $169.20 and its 200 day moving average price is $186.41.

3M (NYSE:MMM) last released its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. 3M had a net margin of 15.27% and a return on equity of 55.05%. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the firm posted $2.59 earnings per share. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts expect that 3M Co will post 9.28 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 16th will be given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, August 15th. 3M’s dividend payout ratio is 55.07%.

In other news, insider John Patrick Banovetz sold 1,040 shares of 3M stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $170.40, for a total value of $177,216.00. Following the transaction, the insider now owns 5,974 shares of the company’s stock, valued at $1,017,969.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.83% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MMM. M. Kraus & Co boosted its stake in 3M by 5.2% during the second quarter. M. Kraus & Co now owns 3,630 shares of the conglomerate’s stock worth $629,000 after buying an additional 179 shares in the last quarter. Schafer Cullen Capital Management Inc boosted its stake in shares of 3M by 26.8% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 590,654 shares of the conglomerate’s stock valued at $102,384,000 after purchasing an additional 124,665 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of 3M by 26.8% in the 2nd quarter. First Trust Advisors LP now owns 449,059 shares of the conglomerate’s stock valued at $77,840,000 after purchasing an additional 94,863 shares in the last quarter. AGF Investments LLC acquired a new stake in shares of 3M in the 2nd quarter valued at $121,000. Finally, Physicians Financial Services Inc. boosted its stake in shares of 3M by 11.7% in the 1st quarter. Physicians Financial Services Inc. now owns 16,859 shares of the conglomerate’s stock valued at $3,503,000 after purchasing an additional 1,763 shares in the last quarter. 66.84% of the stock is currently owned by institutional investors and hedge funds.

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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