5,916 Shares in 3M Company $MMM Bought by PeakShares LLC

PeakShares LLC purchased a new stake in shares of 3M Company (NYSE:MMM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,916 shares of the conglomerate’s stock, valued at approximately $947,000.

Several other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of 3M by 806.1% in the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock valued at $50,345,000 after acquiring an additional 279,757 shares during the period. Inspire Trust Co. N.A. boosted its holdings in shares of 3M by 21.9% during the third quarter. Inspire Trust Co. N.A. now owns 39,000 shares of the conglomerate’s stock worth $6,052,000 after purchasing an additional 7,000 shares during the period. FSA Advisors Inc. purchased a new stake in shares of 3M during the fourth quarter worth about $1,625,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of 3M in the fourth quarter worth about $65,009,000. Finally, Catalyst Funds Management Pty Ltd grew its stake 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 worth $2,770,000 after purchasing an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

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

3M (NYSE:MMM) last posted its quarterly earnings data 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. 3M had a return on equity of 104.75% and a net margin of 11.14%.The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the previous year, the firm posted $1.88 EPS. The business’s revenue was up 1.3% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. On average, sell-side analysts forecast that 3M Company will post 8.7 EPS for the current year.

3M Dividend Announcement

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

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of recent analyst reports. Wolfe Research lowered their price target on 3M from $205.00 to $186.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Royal Bank Of Canada cut their price objective on 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 22nd. Sanford C. Bernstein started coverage on 3M in a research note on Tuesday, June 9th. They set an “underperform” rating and a $131.00 target price on the stock. Wells Fargo & Company upped their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group raised 3M to a “buy” rating and set a $190.00 price target for the company in a research note on Monday. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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).