Horizon Investments LLC Grows Stock Holdings in 3M Company $MMM

Horizon Investments LLC raised its position in shares of 3M Company (NYSE:MMM) by 53.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,994 shares of the conglomerate’s stock after purchasing an additional 6,637 shares during the period. Horizon Investments LLC’s holdings in 3M were worth $3,041,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of 3M by 806.1% in the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock worth $50,345,000 after buying an additional 279,757 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of 3M by 0.9% in the third quarter. Handelsbanken Fonder AB now owns 267,676 shares of the conglomerate’s stock worth $41,538,000 after buying an additional 2,316 shares during the period. Willis Investment Counsel increased its holdings in shares of 3M by 1.5% in the fourth quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock worth $21,796,000 after buying an additional 2,077 shares during the period. Allied Investment Advisors LLC increased its holdings in shares of 3M by 3.3% in the third quarter. Allied Investment Advisors LLC now owns 83,269 shares of the conglomerate’s stock worth $12,922,000 after buying an additional 2,637 shares during the period. Finally, Segall Bryant & Hamill LLC grew its stake in shares of 3M by 11.0% in the third quarter. Segall Bryant & Hamill LLC now owns 62,637 shares of the conglomerate’s stock worth $9,720,000 after purchasing an additional 6,187 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

3M stock opened at $141.56 on Tuesday. The stock’s 50 day simple moving average is $150.90 and its two-hundred day simple moving average is $159.94. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59. The stock has a market cap of $73.83 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.06 and a beta of 1.03. 3M Company has a fifty-two week low of $137.63 and a fifty-two week high of $177.41.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays cut their target price on 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. UBS Group reissued a “buy” rating on shares of 3M in a research note on Friday, March 13th. HSBC raised their target price on 3M from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada cut their target price on 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group raised their target price on 3M from $160.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $171.17.

Insiders Place Their Bets

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of 3M stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 approximately $446,558.75. The trade was a 66.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

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).