Bayban Purchases Shares of 11,576 3M Company $MMM

Bayban purchased a new position in shares of 3M Company (NYSE:MMM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,576 shares of the conglomerate’s stock, valued at approximately $1,853,000. 3M accounts for approximately 1.6% of Bayban’s investment portfolio, making the stock its 9th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Commonwealth Retirement Investments LLC bought a new stake in 3M in the fourth quarter valued at about $28,000. EQ Wealth Advisors LLC acquired a new position in 3M during the 4th quarter valued at approximately $40,000. Sfam LLC bought a new position in 3M during the 4th quarter worth $45,000. WFA of San Diego LLC bought a new position in 3M during the 2nd quarter worth $61,000. Finally, Ameriflex Group Inc. increased its position in 3M by 245.0% in the third quarter. Ameriflex Group Inc. now owns 414 shares of the conglomerate’s stock worth $64,000 after buying an additional 294 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MMM. Wells Fargo & Company raised their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Barclays dropped their price objective on shares of 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Royal Bank Of Canada cut their price objective on shares of 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 22nd. Jefferies Financial Group boosted their target price on shares of 3M from $160.00 to $170.00 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein began coverage on shares of 3M in a research report on Tuesday, June 9th. They issued an “underperform” rating and a $131.00 target price for the company. Six 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’s stock. According to MarketBeat, 3M presently has a consensus rating of “Hold” and an average target price of $169.64.

3M Stock Up 0.2%

3M stock opened at $160.99 on Friday. The stock has a market cap 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 current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. The company’s 50-day moving average price is $151.07 and its two-hundred day moving average price is $156.79. 3M Company has a 52 week low of $139.34 and a 52 week high of $177.41.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. 3M’s dividend payout ratio (DPR) 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).