Birchwood Financial Partners Inc. Makes New $1.31 Million Investment in 3M Company $MMM

Birchwood Financial Partners Inc. acquired a new stake in shares of 3M Company (NYSE:MMM) in the fourth quarter, HoldingsChannel reports. The fund acquired 8,159 shares of the conglomerate’s stock, valued at approximately $1,306,000. 3M makes up about 1.3% of Birchwood Financial Partners Inc.’s investment portfolio, making the stock its 20th biggest holding.

Several other large investors have also recently added to or reduced their stakes in MMM. PFA Pension Forsikringsaktieselskab acquired a new stake in 3M in the 4th quarter valued at approximately $65,009,000. SG Americas Securities LLC raised its position in shares of 3M by 806.1% during the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock worth $50,345,000 after purchasing an additional 279,757 shares during the period. Align Financial LLC purchased a new stake in shares of 3M during the fourth quarter valued at $4,101,000. Allstate Corp boosted its position in shares of 3M by 107.1% in the 4th quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock valued at $6,598,000 after purchasing an additional 21,316 shares during the period. Finally, BNP Paribas boosted its position in shares of 3M by 219.5% in the 4th quarter. BNP Paribas now owns 25,718 shares of the conglomerate’s stock valued at $4,118,000 after purchasing an additional 17,669 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MMM. Wells Fargo & Company boosted their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Sanford C. Bernstein initiated coverage on shares of 3M in a research report on Tuesday, June 9th. They issued an “underperform” rating and a $131.00 target price on the stock. HSBC boosted their price target on shares of 3M from $175.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Barclays reduced their price target on shares of 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Finally, Citigroup lowered their price objective on shares of 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.64.

3M Trading Up 1.1%

3M stock opened at $160.99 on Friday. 3M Company has a 12 month low of $139.34 and a 12 month high of $177.41. The company has a quick ratio of 1.19, a current ratio of 1.59 and a debt-to-equity ratio of 3.29. The stock has a market cap of $83.97 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.30 and a beta of 1.03. The company’s fifty day simple moving average is $150.83 and its 200-day simple moving average is $156.76.

3M (NYSE:MMM) last announced its quarterly earnings data 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. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.3M’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, sell-side analysts forecast that 3M Company will post 8.7 EPS for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. 3M’s dividend payout ratio is presently 60.12%.

3M Profile

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).