3M Company $MMM Shares Bought by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in shares of 3M Company (NYSE:MMM) by 14.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,314 shares of the conglomerate’s stock after acquiring an additional 8,865 shares during the quarter. Tidal Investments LLC’s holdings in 3M were worth $11,708,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. North Star Asset Management Inc. acquired a new stake in shares of 3M during the second quarter worth approximately $1,424,000. Engineers Gate Manager LP grew its holdings in 3M by 74.0% during the 2nd quarter. Engineers Gate Manager LP now owns 287,652 shares of the conglomerate’s stock worth $46,574,000 after acquiring an additional 122,368 shares in the last quarter. Moore Capital Management LP bought a new stake in shares of 3M in the 2nd quarter worth about $7,948,000. Entropy Technologies LP acquired a new stake in shares of 3M in the 1st quarter valued at about $10,945,000. Finally, Catalyst Funds Management Pty Ltd grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 1.2%

NYSE:MMM opened at $164.83 on Friday. The firm has a market capitalization of $85.00 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The stock has a 50 day moving average of $172.02 and a 200-day moving average of $159.30. 3M Company has a 52 week low of $139.34 and a 52 week high of $184.90. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter last year, the business posted $2.16 EPS. The business’s revenue was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Analysts predict that 3M Company will post 8.96 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were given a $0.78 dividend. The ex-dividend date was Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio (DPR) is currently 55.42%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group increased their target price on 3M from $190.00 to $218.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and upped their price target for the company from $178.00 to $180.00 in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $192.00 price objective on shares of 3M in a research note on Wednesday, July 22nd. Jefferies Financial Group lifted their price objective on shares of 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $177.21.

Insider Transactions at 3M

In other 3M news, insider Karin Chavez sold 3,635 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the transaction, the insider directly owned 14,035 shares of the company’s stock, valued at $2,561,527.85. The trade was a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

About 3M

3M Company is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it initially supplied abrasives and other materials before expanding into a broad range of science-based products and technologies.

The company develops products for industrial, transportation, electronics, safety and consumer markets. Its offerings include personal protective equipment, industrial adhesives and tapes, abrasives, filtration products, electrical materials, automotive solutions, medical and dental products, and consumer brands such as Post-it Notes and Scotch products.