3M (NYSE:MMM – Get Rating)’s share price reached a new 52-week low during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $127.00 to $126.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. 3M traded as low as $107.07 and last traded at $114.26, with a volume of 4771539 shares trading hands. The stock had previously closed at $108.95.

Several other equities research analysts have also recently issued reports on MMM. Barclays cut their price target on 3M from $137.00 to $130.00 and set an “underweight” rating for the company in a research note on Monday, October 3rd. Wells Fargo & Company cut their target price on 3M from $144.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, September 8th. Jefferies Financial Group cut their target price on 3M from $161.00 to $145.00 in a research note on Thursday, June 16th. Morgan Stanley cut their target price on 3M from $131.00 to $108.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, TheStreet cut 3M from a “b-” rating to a “c+” rating in a research note on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, 3M currently has a consensus rating of “Hold” and a consensus target price of $142.27.

Insider Transactions at 3M

In other news, EVP Zoe L. Dickson sold 2,265 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $144.40, for a total transaction of $327,066.00. Following the sale, the executive vice president now directly owns 893 shares in the company, valued at $128,949.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Theresa E. Reinseth sold 795 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $143.32, for a total value of $113,939.40. Following the sale, the chief accounting officer now directly owns 1,603 shares in the company, valued at $229,741.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Zoe L. Dickson sold 2,265 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $144.40, for a total value of $327,066.00. Following the completion of the sale, the executive vice president now owns 893 shares in the company, valued at $128,949.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,121 shares of company stock worth $6,644,865. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

Several institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC raised its position in shares of 3M by 0.7% during the fourth quarter. Parametric Portfolio Associates LLC now owns 2,270,956 shares of the conglomerate’s stock worth $403,390,000 after purchasing an additional 15,027 shares during the period. California State Teachers Retirement System raised its position in shares of 3M by 3.5% during the fourth quarter. California State Teachers Retirement System now owns 1,073,428 shares of the conglomerate’s stock worth $190,673,000 after purchasing an additional 36,218 shares during the period. Mendel Capital Management LLC acquired a new position in shares of 3M during the fourth quarter worth approximately $1,197,000. Autumn Glory Partners LLC acquired a new position in shares of 3M during the fourth quarter worth approximately $2,601,000. Finally, Palumbo Wealth Management LLC raised its position in shares of 3M by 7.8% during the fourth quarter. Palumbo Wealth Management LLC now owns 3,618 shares of the conglomerate’s stock worth $643,000 after purchasing an additional 261 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

3M Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.47 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $126.53 and a two-hundred day moving average price of $136.55. The company has a market capitalization of $65.08 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00.

3M (NYSE:MMM – Get Rating) last issued its earnings results on Tuesday, July 26th. The conglomerate reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. The company had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.70 billion. 3M had a return on equity of 39.11% and a net margin of 11.83%. 3M’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 earnings per share. As a group, research analysts anticipate that 3M will post 10.37 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were given a $1.49 dividend. This represents a $5.96 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend was Friday, August 19th. 3M’s payout ratio is currently 83.24%.

3M Company Profile

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.