3M Target of Unusually Large Options Trading (NYSE:MMM)

3M Company (NYSE:MMM) was the recipient of some unusual options trading on Monday. Investors purchased 10,302 call options on the company. This represents an increase of approximately 31% compared to the typical daily volume of 7,882 call options.

3M Trading Up 0.7%

Shares of MMM traded up $1.06 during midday trading on Monday, reaching $154.82. The company had a trading volume of 829,544 shares, compared to its average volume of 3,968,387. 3M has a 1-year low of $139.34 and a 1-year high of $177.41. The stock has a market cap of $80.75 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.03. The firm has a 50 day simple moving average of $148.31 and a 200-day simple moving average of $157.44. The company has a quick ratio of 1.19, a current ratio of 1.59 and a debt-to-equity ratio of 3.29.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business 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 company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Research analysts forecast that 3M will post 8.7 EPS for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, May 22nd. 3M’s dividend payout ratio (DPR) is 60.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MMM shares. Wells Fargo & Company increased their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their target price on 3M from $182.00 to $178.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Citigroup decreased their target price on 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Wolfe Research decreased their target price on 3M from $205.00 to $186.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Finally, HSBC increased their target price on 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $171.17.

Hedge Funds Weigh In On 3M

A number of hedge funds and other institutional investors have recently bought and sold shares of MMM. SG Americas Securities LLC raised its position in shares of 3M by 653.6% during the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after acquiring an additional 2,055,419 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of 3M during the 4th quarter worth about $65,009,000. Handelsbanken Fonder AB raised its position in shares of 3M by 1.5% during the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock worth $43,511,000 after acquiring an additional 4,101 shares in the last quarter. Captrust Financial Advisors raised its position in shares of 3M by 2.9% during the 4th quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock worth $25,084,000 after acquiring an additional 4,372 shares in the last quarter. Finally, Willis Investment Counsel raised its position in shares of 3M by 1.5% during the 4th quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock worth $21,796,000 after acquiring an additional 2,077 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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).