3M Company (NYSE:MMM) Short Interest Update

3M Company (NYSE:MMM) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 9,573,306 shares, a growth of 16.9% from the February 12th total of 8,186,036 shares. Based on an average daily trading volume, of 3,538,486 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.8% of the company’s shares are short sold. Currently, 1.8% of the company’s shares are short sold. Based on an average daily trading volume, of 3,538,486 shares, the days-to-cover ratio is currently 2.7 days.

Insider Transactions at 3M

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the transaction, the chief accounting officer owned 2,585 shares in the company, valued at approximately $446,558.75. This trade represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Several hedge funds and other institutional investors have recently modified their holdings of MMM. Commonwealth Retirement Investments LLC acquired a new position in shares of 3M during the fourth quarter worth about $28,000. J.Safra Asset Management Corp acquired a new stake in 3M in the 3rd quarter valued at approximately $34,000. Westside Investment Management Inc. lifted its stake in 3M by 77.4% in the 3rd quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after acquiring an additional 106 shares in the last quarter. EQ Wealth Advisors LLC acquired a new position in 3M during the 4th quarter worth approximately $40,000. Finally, Sfam LLC acquired a new position in 3M during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

MMM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of 3M from $179.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Citigroup lowered their target price on shares of 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, January 21st. Morgan Stanley increased their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $182.00 price target on shares of 3M in a research report on Friday, January 16th. Finally, Barclays boosted their price target on shares of 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $175.90.

3M Stock Performance

Shares of MMM stock opened at $149.92 on Tuesday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The company has a market capitalization of $78.96 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 2.21 and a beta of 1.08. The company’s 50 day moving average price is $162.63 and its two-hundred day moving average price is $161.79. 3M has a 52 week low of $121.98 and a 52 week high of $177.41.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter in the prior year, the company earned $1.68 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 13th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, February 13th. This is a boost from 3M’s previous quarterly dividend of $0.73. 3M’s dividend payout ratio (DPR) is currently 52.00%.

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).