3M Sees Unusually High Options Volume (NYSE:MMM)

3M Company (NYSE:MMM) was the recipient of some unusual options trading activity on Wednesday. Investors bought 14,700 call options on the stock. This represents an increase of 66% compared to the typical daily volume of 8,881 call options.

Hedge Funds Weigh In On 3M

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Retirement Investments LLC purchased a new position in shares of 3M in the fourth quarter worth $28,000. EQ Wealth Advisors LLC acquired a new stake in 3M during the fourth quarter worth about $40,000. Cornerstone Planning Group LLC lifted its holdings in 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 71 shares during the period. Sfam LLC purchased a new stake in 3M in the 4th quarter worth approximately $45,000. Finally, WFA of San Diego LLC purchased a new stake in 3M in the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MMM shares. Sanford C. Bernstein began coverage on 3M in a report on Tuesday, June 9th. They issued an “underperform” rating and a $131.00 price target on the stock. Weiss Ratings downgraded 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. The Goldman Sachs Group raised shares of 3M to a “buy” rating and set a $190.00 target price for the company in a report on Monday, June 15th. Wells Fargo & Company boosted their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group increased their price objective on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Monday, June 29th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, 3M currently has an average rating of “Hold” and a consensus target price of $170.00.

3M Price Performance

Shares of MMM stock opened at $160.58 on Thursday. 3M has a twelve month low of $139.34 and a twelve month high of $177.41. The stock has a fifty day simple moving average of $155.42 and a two-hundred day simple moving average of $156.12. The stock has a market capitalization of $83.75 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 2.20 and a beta of 1.02. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 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 company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. On average, analysts predict that 3M will post 8.74 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, May 22nd. 3M’s dividend payout ratio is 60.12%.

3M Company 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).