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

Key Points

• 3M saw unusual options activity on Wednesday, with investors buying 14,700 call options — about 66% above the stock’s typical volume.
• Shares of MMM rose 1.6% to $159.07, while the company’s recent quarter showed EPS of $2.14, beating estimates, even as revenue slightly missed expectations.
• Analyst sentiment is mixed: 3M currently has a Hold consensus rating and a $170 average price target, with six Buy, six Hold, and two Sell ratings.

3M Company (NYSE:MMM - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors purchased 14,700 call options on the stock. This represents an increase of 66% compared to the typical volume of 8,881 call options.

3M Trading Up 1.6%

Shares of NYSE MMM traded up $2.50 during midday trading on Wednesday, reaching $159.07. The stock had a trading volume of 1,354,388 shares, compared to its average volume of 3,920,533. The company's 50 day moving average price is $155.14 and its 200 day moving average price is $156.12. 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 has a twelve month low of $139.34 and a twelve month high of $177.41. The firm has a market cap of $82.97 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, sell-side analysts expect that 3M will post 8.74 EPS for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, May 22nd. 3M's dividend payout ratio (DPR) is currently 60.12%.

Hedge Funds Weigh In On 3M

Several large investors have recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC purchased a new position in shares of 3M in the 4th quarter worth about $28,000. EQ Wealth Advisors LLC purchased a new stake in 3M during the fourth quarter worth about $40,000. Cornerstone Planning Group LLC increased its holdings in 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 buying an additional 71 shares during the last quarter. Sfam LLC bought a new stake in 3M in the fourth quarter worth about $45,000. Finally, WFA of San Diego LLC purchased a new position in 3M in the second quarter valued at about $61,000. Institutional investors own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MMM shares. Wells Fargo & Company increased their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of 3M from $182.00 to $178.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings cut 3M from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, June 1st. Royal Bank Of Canada reduced their target price on 3M from $134.00 to $133.00 and set an "underperform" rating on the stock in a report on Wednesday, April 22nd. Finally, Barclays decreased their price target on 3M from $190.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, 3M presently has a consensus rating of "Hold" and a consensus price target of $170.00.

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).

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