BNP Paribas Increases Stock Position in 3M Company $MMM

BNP Paribas grew its position in shares of 3M Company (NYSE:MMM) by 99.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,049 shares of the conglomerate’s stock after purchasing an additional 4,009 shares during the period. BNP Paribas’ holdings in 3M were worth $1,249,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp bought a new position in 3M during the third quarter valued at approximately $34,000. Westside Investment Management Inc. increased its stake in 3M by 77.4% in the 3rd quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after acquiring an additional 106 shares during the last quarter. Cloud Capital Management LLC bought a new stake in 3M in the 3rd quarter worth approximately $50,000. Collier Financial purchased a new stake in shares of 3M during the 3rd quarter worth approximately $52,000. Finally, WFA of San Diego LLC bought a new position in shares of 3M during the 2nd quarter valued at approximately $61,000. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

NYSE MMM opened at $151.00 on Monday. The business’s 50 day moving average price is $162.90 and its 200-day moving average price is $161.85. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $177.41. The company has a market cap of $79.53 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.21 and a beta of 1.08. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.03 billion. 3M had a return on equity of 95.36% and a net margin of 13.03%.3M’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Sell-side analysts predict that 3M Company will post 7.8 earnings per share for the current year.

3M Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Wolfe Research increased their price objective on shares of 3M from $196.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Mizuho set a $160.00 price objective on shares of 3M in a research note on Wednesday, January 21st. Wells Fargo & Company reduced their target price on shares of 3M from $183.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $182.00 target price on shares of 3M in a research report on Friday, January 16th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $175.90.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of 3M stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total transaction of $888,798.75. Following the completion of the transaction, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at approximately $446,558.75. The trade was a 66.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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).