28,366 Shares in 3M Company $MMM Bought by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL purchased a new position in shares of 3M Company (NYSE:MMM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,366 shares of the conglomerate’s stock, valued at approximately $4,593,000. 3M makes up approximately 1.7% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 17th largest holding.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC acquired a new stake in shares of 3M during the 4th quarter valued at about $28,000. EQ Wealth Advisors LLC acquired a new position in 3M in the fourth quarter worth about $40,000. Cornerstone Planning Group LLC raised its position in 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 71 shares in the last quarter. Sfam LLC bought a new position in 3M during the fourth quarter worth about $45,000. Finally, West Paces Advisors Inc. acquired a new stake in 3M during the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Up 0.4%

Shares of MMM opened at $180.02 on Thursday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. The company has a market cap of $92.84 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 2.17 and a beta of 1.01. The stock has a fifty day moving average price of $170.47 and a two-hundred day moving average price of $159.31. 3M Company has a 52-week low of $139.34 and a 52-week high of $184.90.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 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 company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The business’s revenue for the quarter 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 fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a yield of 1.7%. 3M’s dividend payout ratio is currently 55.42%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, June 29th. Sanford C. Bernstein boosted their price target on 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, July 22nd. Citigroup upped their price target on 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada increased their price objective on 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. Finally, Mizuho lifted their price objective on 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, 3M currently has a consensus rating of “Hold” and an average price target of $177.21.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the sale, the insider owned 14,035 shares in the company, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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).