Moore Capital Management LP Acquires Shares of 49,089 3M Company $MMM

Moore Capital Management LP acquired a new position in shares of 3M Company (NYSE:MMM) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 49,089 shares of the conglomerate’s stock, valued at approximately $7,948,000.

Other large investors have also recently bought and sold shares of the company. North Star Asset Management Inc. bought a new stake in shares of 3M in the 2nd quarter valued at about $1,424,000. FSA Advisors Inc. purchased a new stake in shares of 3M during the fourth quarter valued at approximately $1,625,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of 3M in the 4th quarter worth approximately $65,009,000. Catalyst Funds Management Pty Ltd raised its position in shares of 3M by 260.4% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate’s stock valued at $2,770,000 after purchasing an additional 12,500 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of 3M in the first quarter worth about $10,945,000. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 0.1%

Shares of NYSE MMM opened at $174.14 on Monday. The stock has a market capitalization of $89.81 billion, a P/E ratio of 30.93, a PEG ratio of 2.11 and a beta of 1.01. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. The business’s 50 day moving average is $171.09 and its two-hundred day moving average is $159.39. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the firm posted $2.16 EPS. 3M’s quarterly revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, research analysts expect that 3M Company will post 8.96 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. 3M’s dividend payout ratio is currently 55.42%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MMM shares. Wolfe Research reissued an “outperform” rating on shares of 3M in a research note on Thursday, July 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of 3M in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of 3M from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Jefferies Financial Group raised their price objective on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Monday, June 29th. Finally, Mizuho upped their price objective on 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, 3M has an average rating of “Hold” and an average target price of $177.21.

Insider Buying and Selling at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the sale, the insider directly owned 14,035 shares of the company’s stock, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

3M Company 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).