Bayban Buys New Shares in 3M Company $MMM

Bayban bought a new position in shares of 3M Company (NYSE:MMM) in the fourth quarter, Holdings Channel reports. The fund bought 11,576 shares of the conglomerate’s stock, valued at approximately $1,853,000. 3M makes up approximately 1.6% of Bayban’s investment portfolio, making the stock its 9th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. PFA Pension Forsikringsaktieselskab bought a new position in shares of 3M in the fourth quarter valued at $65,009,000. SG Americas Securities LLC grew its holdings in shares of 3M by 806.1% in the 4th quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock worth $50,345,000 after acquiring an additional 279,757 shares during the last quarter. Align Financial LLC acquired a new stake in shares of 3M during the fourth quarter worth $4,101,000. Allstate Corp raised its position in shares of 3M by 107.1% during the fourth quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock worth $6,598,000 after purchasing an additional 21,316 shares during the period. Finally, BNP Paribas lifted its holdings in shares of 3M by 219.5% during the fourth quarter. BNP Paribas now owns 25,718 shares of the conglomerate’s stock valued at $4,118,000 after purchasing an additional 17,669 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.2%

Shares of 3M stock opened at $160.99 on Friday. The stock has a 50-day moving average price of $151.07 and a 200 day moving average price of $156.79. The company has a market cap of $83.97 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.32 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. 3M Company has a 1 year low of $139.34 and a 1 year high of $177.41.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, analysts expect that 3M Company will post 8.7 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, May 22nd. 3M’s dividend payout ratio is currently 60.12%.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of recent analyst reports. Citigroup decreased their price target on 3M from $175.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada reduced their price objective on shares of 3M from $134.00 to $133.00 and set an “underperform” rating for the company in a research note on Wednesday, April 22nd. Wolfe Research decreased their target price on shares of 3M from $205.00 to $186.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Jefferies Financial Group lifted their target price on shares of 3M from $160.00 to $170.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. Finally, UBS Group restated a “buy” rating on shares of 3M in a research report on Friday, March 13th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $169.64.

3M Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).