Entropy Technologies LP Invests $10.95 Million in 3M Company $MMM

Entropy Technologies LP purchased a new position in shares of 3M Company (NYSE:MMM) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 75,362 shares of the conglomerate’s stock, valued at approximately $10,945,000.

A number of other large investors also recently bought and sold shares of the business. Oslo Pensjonsforsikring AS bought a new position in 3M in the 1st quarter valued at $434,000. Parallel Advisors LLC increased its stake in 3M by 1.6% in the first quarter. Parallel Advisors LLC now owns 13,170 shares of the conglomerate’s stock worth $1,913,000 after purchasing an additional 209 shares during the period. Koss Olinger Consulting LLC bought a new stake in shares of 3M during the first quarter worth $413,000. Cornerstone Planning Group LLC lifted its position in shares of 3M by 32.1% during the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 71 shares during the last quarter. Finally, PeakShares LLC boosted its stake in shares of 3M by 18.1% during the first quarter. PeakShares LLC now owns 6,988 shares of the conglomerate’s stock valued at $1,015,000 after purchasing an additional 1,072 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Up 1.7%

NYSE:MMM opened at $172.44 on Friday. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 1.19. 3M Company has a 1-year low of $139.34 and a 1-year high of $177.41. The company has a 50-day moving average of $158.49 and a 200 day moving average of $156.42. The firm has a market cap of $88.93 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 2.34 and a beta of 1.02.

3M (NYSE:MMM) last posted its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter last year, the firm posted $2.16 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, research analysts anticipate that 3M Company will post 8.93 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were issued a $0.78 dividend. The ex-dividend date was Friday, May 22nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. 3M’s dividend payout ratio (DPR) is currently 55.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on MMM. The Goldman Sachs Group restated a “buy” rating on shares of 3M in a report on Wednesday. UBS Group boosted their price objective on shares of 3M from $190.00 to $218.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings upgraded shares of 3M from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Wells Fargo & Company raised their target price 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, Barclays decreased their price target on shares of 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, 3M currently has an average rating of “Hold” and an average price target of $177.21.

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).