3M (NYSE: MMM – Get Rating) ‘s stock price hit a new 52-week low during trading on Thursday after Jefferies Financial Group lowered their price target on the stock from $ 161.00 to $ 145.00. The stock traded as low as $ 130.74 and last traded at $ 131.36, with a volume of 36659 shares. The stock had previously closed at $ 134.33.
Other research analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of 3M from $ 136.00 to $ 138.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 3M from $ 167.00 to $ 164.00 and set a “hold” rating on the stock in a research note on Wednesday, April 27th. Argus lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Morgan Stanley reduced their price objective on shares of 3M from $ 150.00 to $ 145.00 and set an “underweight” rating on the stock in a research note on Thursday, April 7th. Finally, StockNews.com started coverage on shares of 3M in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $ 164.00.
In other news, CEO Michael F. Roman sold 10,610 shares of 3M stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $ 146.21, for a total value of $ 1,551,288.10. Following the sale, the chief executive officer now directly owns 90,361 shares in the company, valued at $ 13,211,681.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mojdeh Poul sold 1,634 shares of 3M stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $ 151.68, for a total transaction of $ 247,845.12. Following the completion of the sale, the insider now owns 7,637 shares in the company, valued at $ 1,158,380.16. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kovack Advisors Inc. increased its holdings in 3M by 1.1% during the fourth quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock worth $ 922,000 after buying an additional 56 shares during the last quarter. HNP Capital LLC increased its holdings in 3M by 0.8% during the fourth quarter. HNP Capital LLC now owns 6,959 shares of the conglomerate’s stock worth $ 1,236,000 after buying an additional 57 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its holdings in 3M by 0.7% during the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 8,960 shares of the conglomerate’s stock worth $ 1,592,000 after buying an additional 60 shares during the last quarter. CRA Financial Services LLC increased its holdings in 3M by 2.3% during the fourth quarter. CRA Financial Services LLC now owns 2,636 shares of the conglomerate’s stock worth $ 468,000 after buying an additional 60 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in 3M by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,513 shares of the conglomerate’s stock worth $ 1,335,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 67.22% of the company stock.
The stock has a market capitalization of $ 74.51 billion, a price-to-earnings ratio of 13.63, a P / E / G ratio of 1.34 and a beta of 0.92. The company fifty day simple moving average is $ 146.68 and its 200 day simple moving average is $ 157.07. The company has a quick ratio of 1.00, a current ratio of 1.58 and a debt-to-equity ratio of 0.99.
3M (NYSE: MMM – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $ 2.65 EPS for the quarter, beating the consensus estimate of $ 2.33 by $ 0.32. 3M had a net margin of 15.84% and a return on equity of 39.35%. The firm had revenue of $ 8.80 billion for the quarter, compared to the consensus estimate of $ 8.75 billion. During the same period in the previous year, the company earned $ 2.77 earnings per share. The company quarterly revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that 3M will post 10.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 12th. Shareholders of record on Friday, May 20th were issued a $ 1.49 dividend. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $ 5.96 annualized dividend and a dividend yield of 4.55%. 3M’s dividend payout ratio is currently 62.02%.
3M Company Profile: (NYSE: MMM)
3M Company operates as a diversified technology company worldwide. It 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.
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