3M Company $MMM Shares Sold by Spinnaker Trust

Spinnaker Trust decreased its stake in shares of 3M Company (NYSE:MMM) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 395,870 shares of the conglomerate’s stock after selling 3,285 shares during the quarter. 3M makes up 3.1% of Spinnaker Trust’s investment portfolio, making the stock its 7th biggest holding. Spinnaker Trust owned approximately 0.08% of 3M worth $64,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MMM. North Star Asset Management Inc. purchased a new position in shares of 3M in the 2nd quarter valued at about $1,424,000. FSA Advisors Inc. acquired a new position in shares of 3M during the fourth quarter worth about $1,625,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of 3M during the fourth quarter worth approximately $65,009,000. Catalyst Funds Management Pty Ltd increased its stake in shares of 3M by 260.4% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate’s stock worth $2,770,000 after buying an additional 12,500 shares during the period. Finally, Entropy Technologies LP acquired a new stake in 3M in the first quarter valued at approximately $10,945,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the sale, the insider owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MMM has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of 3M from $190.00 to $218.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein increased their price objective on shares of 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group raised their price objective on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a report on Monday, June 29th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $178.00 to $180.00 in a research report on Friday, July 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $177.21.

3M Price Performance

MMM stock opened at $174.14 on Friday. The business has a 50 day moving average price of $171.09 and a 200 day moving average price of $159.46. The stock has a market cap of $89.81 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 2.11 and a beta of 1.01. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63.

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. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities research analysts anticipate that 3M Company will post 8.96 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.8%. 3M’s dividend payout ratio is currently 55.42%.

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).