WINTON GROUP Ltd Buys New Position in 3M Company $MMM

WINTON GROUP Ltd purchased a new position in shares of 3M Company (NYSE:MMM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 28,239 shares of the conglomerate’s stock, valued at approximately $4,572,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Engineers Gate Manager LP lifted its position in shares of 3M by 74.0% during the second quarter. Engineers Gate Manager LP now owns 287,652 shares of the conglomerate’s stock valued at $46,574,000 after purchasing an additional 122,368 shares in the last quarter. Cidel Asset Management Inc. grew its position in 3M by 3.4% in the 2nd quarter. Cidel Asset Management Inc. now owns 4,488 shares of the conglomerate’s stock worth $727,000 after purchasing an additional 149 shares in the last quarter. Capital Analysts LLC increased its stake in 3M by 2.7% in the 2nd quarter. Capital Analysts LLC now owns 2,576 shares of the conglomerate’s stock valued at $417,000 after buying an additional 67 shares during the last quarter. SVB Wealth LLC increased its stake in 3M by 1.3% in the 2nd quarter. SVB Wealth LLC now owns 5,484 shares of the conglomerate’s stock valued at $888,000 after buying an additional 70 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of 3M by 3.3% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,439 shares of the conglomerate’s stock worth $557,000 after buying an additional 110 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Down 0.9%

Shares of MMM stock opened at $162.86 on Friday. The stock has a market capitalization of $83.99 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.16 and a beta of 1.01. The company’s fifty day simple moving average is $171.93 and its two-hundred day simple moving average is $159.26. 3M Company has a 1 year low of $139.34 and a 1 year high of $184.90. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, analysts anticipate that 3M Company will post 8.96 earnings per share for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be paid a $0.78 dividend. The ex-dividend date is Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio (DPR) is currently 55.42%.

Insiders Place Their Bets

In other 3M news, insider Karin Chavez sold 3,635 shares of 3M stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the transaction, the insider owned 14,035 shares of the company’s stock, valued at $2,561,527.85. The trade was a 20.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MMM shares. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $178.00 to $180.00 in a research note on Friday, July 17th. Royal Bank Of Canada increased their price target on 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $192.00 price objective on shares of 3M in a research report on Wednesday, July 22nd. Weiss Ratings upgraded 3M from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Finally, Mizuho raised their target price on 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $177.21.

3M Company Profile

3M Company is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it initially supplied abrasives and other materials before expanding into a broad range of science-based products and technologies.

The company develops products for industrial, transportation, electronics, safety and consumer markets. Its offerings include personal protective equipment, industrial adhesives and tapes, abrasives, filtration products, electrical materials, automotive solutions, medical and dental products, and consumer brands such as Post-it Notes and Scotch products.