3M Company $MMM Stake Lifted by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. grew its stake in shares of 3M Company (NYSE:MMM) by 113.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,820 shares of the conglomerate’s stock after purchasing an additional 6,820 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in 3M were worth $2,104,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Commonwealth Retirement Investments LLC purchased a new position in 3M in the 4th quarter worth approximately $28,000. Security National Bank of SO Dak acquired a new position in shares of 3M during the second quarter worth $32,000. Compass Financial Management LLC acquired a new stake in 3M during the 2nd quarter valued at $38,000. Cornerstone Planning Group LLC increased its stake in 3M by 32.1% during the 1st 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 period. Finally, West Paces Advisors Inc. acquired a new position in 3M in the 2nd quarter worth $49,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised 3M from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Mizuho lifted their price objective on 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of 3M in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company started coverage on shares of 3M in a research report on Thursday, September 24th. They set an “equal weight” rating and a $195.00 price target for the company. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $181.36.

Insiders Place Their Bets

In other 3M news, insider Karin Chavez sold 3,635 shares of 3M stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider owned 14,035 shares in the company, valued at approximately $2,561,527.85. The trade was a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

3M Stock Performance

NYSE MMM traded up $0.14 during trading hours on Thursday, hitting $162.26. The company had a trading volume of 836,964 shares, compared to its average volume of 3,691,113. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. The firm has a market cap of $83.68 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.29 and a beta of 0.99. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90. The business has a fifty day simple moving average of $172.31 and a 200-day simple moving average of $160.49.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.The company 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 posted $2.16 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities analysts predict that 3M Company will post 8.97 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio is currently 55.42%.

About 3M

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.