Virtu Financial LLC Makes New $2.45 Million Investment in 3M Company $MMM

Virtu Financial LLC acquired a new stake in 3M Company (NYSE:MMM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,330 shares of the conglomerate’s stock, valued at approximately $2,454,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. PFA Pension Forsikringsaktieselskab purchased a new position in shares of 3M during the 4th quarter valued at approximately $65,009,000. SG Americas Securities LLC increased its holdings in 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 acquiring an additional 279,757 shares in the last quarter. Align Financial LLC purchased a new stake in 3M in the 4th quarter worth $4,101,000. Allstate Corp raised its position in 3M by 107.1% during the fourth quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock worth $6,598,000 after acquiring an additional 21,316 shares during the period. Finally, BNP Paribas raised its position in 3M by 219.5% during the fourth quarter. BNP Paribas now owns 25,718 shares of the conglomerate’s stock worth $4,118,000 after acquiring an additional 17,669 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MMM. Weiss Ratings downgraded shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Sanford C. Bernstein started coverage on shares of 3M in a research note on Tuesday, June 9th. They set an “underperform” rating and a $131.00 target price for the company. The Goldman Sachs Group upgraded shares of 3M to a “buy” rating and set a $190.00 price target for the company in a research report on Monday. Wolfe Research decreased their price target on shares of 3M from $205.00 to $186.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada lowered their price objective on 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a report on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.64.

3M Stock Up 0.2%

NYSE MMM opened at $160.99 on Friday. The business has a fifty day moving average price of $151.07 and a 200 day moving average price of $156.79. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59. The company 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. 3M Company has a one year low of $139.34 and a one year high of $177.41.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) 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 company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The firm’s quarterly revenue 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 anticipate that 3M Company will post 8.7 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. 3M’s dividend payout ratio (DPR) is currently 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).