SG Americas Securities LLC Boosts Stock Position in 3M Company $MMM

SG Americas Securities LLC lifted its holdings in shares of 3M Company (NYSE:MMM) by 653.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,369,879 shares of the conglomerate’s stock after buying an additional 2,055,419 shares during the quarter. SG Americas Securities LLC’s holdings in 3M were worth $344,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Inspire Trust Co. N.A. raised its position in 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 acquiring an additional 7,000 shares during the period. FSA Advisors Inc. purchased a new position in 3M during the fourth quarter valued at $1,625,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of 3M in the fourth quarter valued at about $65,009,000. Catalyst Funds Management Pty Ltd grew 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, First Bank & Trust purchased a new stake in shares of 3M during the fourth quarter worth about $828,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the subject of several research analyst reports. Citigroup reduced their price target on shares of 3M from $175.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. JPMorgan Chase & Co. lowered their price objective on 3M from $182.00 to $178.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. UBS Group reissued a “buy” rating on shares of 3M in a report on Friday, March 13th. Finally, Sanford C. Bernstein began coverage on 3M in a research report on Tuesday, June 9th. They issued an “underperform” rating and a $131.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Hold” and a consensus target price of $169.64.

3M Price Performance

3M stock opened at $160.99 on Monday. 3M Company has a 52-week low of $139.34 and a 52-week high of $177.41. The firm has a market capitalization of $83.97 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.32 and a beta of 1.03. The company has a fifty day simple moving average of $151.07 and a 200-day simple moving average of $156.69. The company has a quick ratio of 1.19, a current ratio of 1.59 and a debt-to-equity ratio of 3.29.

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

3M Announces Dividend

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

About 3M

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).