3M Company (NYSE:MMM) Short Interest Update

3M Company (NYSE:MMM) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 9,573,306 shares, an increase of 16.9% from the February 12th total of 8,186,036 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 3,538,486 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 3,538,486 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.8% of the company’s stock are sold short.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer owned 2,585 shares in the company, valued at approximately $446,558.75. This represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

Institutional investors and hedge funds have recently modified their holdings of the business. PeakShares LLC bought a new position in shares of 3M during the fourth quarter worth approximately $947,000. Union Savings Bank bought a new position in 3M during the 4th quarter worth $415,000. Bayban acquired a new position in 3M in the 4th quarter valued at $1,853,000. DGS Capital Management LLC raised its holdings in 3M by 35.5% in the 4th quarter. DGS Capital Management LLC now owns 2,512 shares of the conglomerate’s stock valued at $402,000 after acquiring an additional 658 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of 3M during the 4th quarter valued at $2,454,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MMM has been the topic of several analyst reports. UBS Group reissued a “buy” rating on shares of 3M in a research report on Friday. Wolfe Research raised their price objective on 3M from $196.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Citigroup dropped their target price on 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, January 21st. Morgan Stanley increased their price target on 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $182.00 price target on shares of 3M in a research note on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $175.90.

3M Price Performance

3M stock opened at $149.92 on Tuesday. The company has a market capitalization of $78.96 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.21 and a beta of 1.08. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. 3M has a 12 month low of $121.98 and a 12 month high of $177.41. The stock’s 50 day moving average is $162.63 and its 200-day moving average is $161.79.

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

3M Increases Dividend

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

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).