von Borstel & Associates Inc. Invests $917,000 in 3M Company $MMM

von Borstel & Associates Inc. purchased a new position in shares of 3M Company (NYSE:MMM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,474 shares of the conglomerate’s stock, valued at approximately $917,000.

Several other institutional investors also recently bought and sold shares of the company. Walter & Keenan Wealth Management LLC IN ADV increased its stake in 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after buying an additional 61 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of 3M by 0.8% during the third quarter. Private Trust Co. NA now owns 9,205 shares of the conglomerate’s stock valued at $1,428,000 after acquiring an additional 69 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. lifted its position in shares of 3M by 6.0% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate’s stock valued at $195,000 after acquiring an additional 71 shares in the last quarter. Quent Capital LLC boosted its stake in shares of 3M by 2.6% in the third quarter. Quent Capital LLC now owns 2,845 shares of the conglomerate’s stock worth $441,000 after acquiring an additional 73 shares during the last quarter. Finally, BlueStem Wealth Partners LLC increased its position in shares of 3M by 1.8% during the third quarter. BlueStem Wealth Partners LLC now owns 4,264 shares of the conglomerate’s stock worth $662,000 after purchasing an additional 77 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $182.00 price objective on shares of 3M in a research note on Friday, January 16th. Royal Bank Of Canada upped their target price on shares of 3M from $131.00 to $136.00 and gave the stock an “underperform” rating in a report on Wednesday, January 21st. Wells Fargo & Company reduced their target price on shares of 3M from $183.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Wolfe Research raised their price target on shares of 3M from $196.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Finally, Barclays boosted their price target on shares of 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, 3M currently has an average rating of “Hold” and an average price target of $175.90.

Insiders Place Their Bets

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the transaction, the chief accounting officer directly owned 2,585 shares in the company, valued at $446,558.75. The trade was a 66.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is owned by insiders.

3M Stock Performance

NYSE MMM opened at $151.00 on Friday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The stock’s fifty day moving average is $162.90 and its two-hundred day moving average is $161.77. The firm has a market capitalization of $79.53 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 2.18 and a beta of 1.08. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $177.41.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. 3M had a return on equity of 95.36% and a net margin of 13.03%.The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the company earned $1.68 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, research analysts anticipate that 3M Company will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 13th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.1%. This is a boost from 3M’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, February 13th. 3M’s payout ratio is presently 52.00%.

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).