Neumann Capital Management LLC purchased a new position in shares of 3M Company (NYSE:MMM – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,161 shares of the conglomerate’s stock, valued at approximately $1,340,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in 3M by 0.4% during the second quarter. State Street Corp now owns 27,828,966 shares of the conglomerate’s stock worth $4,505,788,000 after buying an additional 105,222 shares in the last quarter. Amundi grew its stake in 3M by 67.0% in the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock worth $734,448,000 after acquiring an additional 1,819,178 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 3M by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock valued at $637,202,000 after purchasing an additional 270,458 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of 3M by 653.6% during the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after acquiring an additional 2,055,419 shares during the last quarter. Finally, National Pension Service raised its stake in 3M by 3.6% during the second quarter. National Pension Service now owns 1,401,543 shares of the conglomerate’s stock worth $226,924,000 after purchasing an additional 48,167 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.
3M Stock Performance
3M stock opened at $165.26 on Friday. The stock’s 50 day moving average price is $170.35 and its 200 day moving average price is $161.25. The firm has a market capitalization of $85.23 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.30 and a beta of 0.99. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. 3M Company has a one year low of $139.34 and a one year high of $184.90.
3M (NYSE:MMM – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the business earned $2.16 EPS. 3M’s quarterly revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, sell-side analysts expect that 3M Company will post 8.97 EPS for the current fiscal year.
3M Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were paid a $0.78 dividend. The ex-dividend date was Monday, August 24th. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. 3M’s dividend payout ratio is 55.42%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on MMM shares. JPMorgan Chase & Co. reduced their price target on shares of 3M from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Jefferies Financial Group raised their target price on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of 3M from $192.00 to $194.00 and gave the company a “hold” rating in a research note on Wednesday, September 30th. Mizuho lifted their target price on shares of 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a research report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $181.71.
Check Out Our Latest Research Report on 3M
Insiders Place Their Bets
In related news, insider Karin Chavez sold 3,635 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the sale, the insider directly owned 14,035 shares of the company’s stock, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.
3M Company Profile
3M is a diversified technology and manufacturing company that develops products and solutions for industrial, workplace safety, transportation, electronics, consumer and other markets. Its portfolio includes adhesives, abrasives, tapes, films, filtration products, personal protective equipment, reflective materials and advanced materials used in manufacturing and commercial applications.
The company sells a broad range of well-known consumer and office products under brands such as Post-it and Scotch.
Featured Articles
- Five stocks we like better than 3M
- ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing
- Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Company (NYSE:MMM – Free Report).
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.
