PeakShares LLC Makes New $947,000 Investment in 3M Company $MMM

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

Several other hedge funds and other institutional investors also recently modified their holdings of MMM. PFA Pension Forsikringsaktieselskab purchased a new position in 3M in the 4th quarter worth approximately $65,009,000. SG Americas Securities LLC increased 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 buying an additional 279,757 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of 3M by 1.5% during the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock valued at $43,511,000 after buying an additional 4,101 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of 3M by 2.9% during the 4th quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock worth $25,084,000 after acquiring an additional 4,372 shares during the last quarter. Finally, Willis Investment Counsel lifted its holdings in shares of 3M by 1.5% during the 4th quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock worth $21,796,000 after acquiring an additional 2,077 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 firm 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 firm’s fifty day moving average is $151.07 and its 200 day moving average is $156.79. 3M Company has a 52 week low of $139.34 and a 52 week high of $177.41. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59.

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. 3M had a net margin of 11.14% and a return on equity of 104.75%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Research analysts predict that 3M Company will post 8.7 earnings per share for the current year.

3M Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on MMM. Deutsche Bank Aktiengesellschaft reduced their target price on 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group lifted their price target on 3M from $160.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. Citigroup cut their price objective on 3M from $175.00 to $166.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Sanford C. Bernstein began coverage on 3M in a report on Tuesday, June 9th. They set an “underperform” rating and a $131.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their target price on 3M from $134.00 to $133.00 and set an “underperform” rating for the company in a research report on Wednesday, April 22nd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus price target of $169.64.

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).