403,354 Shares in 3M Company $MMM Purchased by PFA Pension Forsikringsaktieselskab

PFA Pension Forsikringsaktieselskab purchased a new position in shares of 3M Company (NYSE:MMM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 403,354 shares of the conglomerate’s stock, valued at approximately $65,009,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Horizon Investments LLC raised its stake in 3M by 53.7% during the fourth quarter. Horizon Investments LLC now owns 18,994 shares of the conglomerate’s stock worth $3,041,000 after purchasing an additional 6,637 shares during the period. EQ Wealth Advisors LLC purchased a new position in 3M during the fourth quarter worth about $40,000. SOL Capital Management CO purchased a new position in 3M during the fourth quarter worth about $202,000. KTF Investments LLC purchased a new position in 3M during the fourth quarter worth about $336,000. Finally, Citizens National Bank Trust Department raised its stake in 3M by 5.1% during the fourth quarter. Citizens National Bank Trust Department now owns 4,754 shares of the conglomerate’s stock worth $761,000 after purchasing an additional 229 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total transaction of $888,798.75. Following the sale, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at $446,558.75. This represents a 66.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 4th. Morgan Stanley lifted their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Royal Bank Of Canada reduced their target price on shares of 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Mizuho set a $160.00 target price on shares of 3M in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $171.17.

3M Price Performance

3M stock opened at $142.63 on Friday. The company’s 50 day simple moving average is $150.90 and its 200-day simple moving average is $159.89. The company has a market capitalization of $74.39 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. 3M Company has a 1 year low of $137.63 and a 1 year high of $177.41. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.04 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, equities research analysts expect that 3M Company will post 8.7 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 13th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, February 13th. This is an increase from 3M’s previous quarterly dividend of $0.73. 3M’s payout ratio is currently 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).