Birchwood Financial Partners Inc. Purchases Shares of 8,159 3M Company $MMM

Birchwood Financial Partners Inc. bought a new position in shares of 3M Company (NYSE:MMM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,159 shares of the conglomerate’s stock, valued at approximately $1,306,000. 3M accounts for about 1.3% of Birchwood Financial Partners Inc.’s holdings, making the stock its 20th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in MMM. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of 3M during the 4th quarter worth about $65,009,000. SG Americas Securities LLC increased its stake in 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 purchasing an additional 279,757 shares during the last quarter. Handelsbanken Fonder AB increased its stake in 3M by 1.5% in the fourth quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock valued at $43,511,000 after purchasing an additional 4,101 shares during the last quarter. Captrust Financial Advisors increased its position in shares of 3M by 2.9% during the fourth quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock worth $25,084,000 after purchasing an additional 4,372 shares in the last quarter. Finally, Willis Investment Counsel lifted its holdings in shares of 3M by 1.5% in the 4th quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock valued at $21,796,000 after purchasing an additional 2,077 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Up 1.1%

Shares of MMM opened at $160.99 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. The firm has a market capitalization of $83.97 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 2.30 and a beta of 1.03. The stock’s fifty day simple moving average is $150.83 and its 200 day simple moving average is $156.76. 3M Company has a twelve month low of $139.34 and a twelve month high of $177.41.

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

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were given a dividend of $0.78 per share. 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 presently 60.12%.

Analyst Ratings Changes

MMM has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on 3M from $182.00 to $178.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Sanford C. Bernstein assumed coverage on shares of 3M in a research report on Tuesday, June 9th. They set an “underperform” rating and a $131.00 price objective for the company. The Goldman Sachs Group raised 3M to a “buy” rating and set a $190.00 price target for the company in a report on Monday. Citigroup decreased their price objective on shares of 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, Royal Bank Of Canada cut their price target on 3M from $134.00 to $133.00 and set an “underperform” rating for the company in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $169.64.

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).