Inspire Trust Co. N.A. Raises Stock Position in 3M Company $MMM

Inspire Trust Co. N.A. lifted its stake in 3M Company (NYSE:MMM) by 21.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,000 shares of the conglomerate’s stock after buying an additional 7,000 shares during the period. 3M makes up 1.1% of Inspire Trust Co. N.A.’s investment portfolio, making the stock its 25th largest holding. Inspire Trust Co. N.A.’s holdings in 3M were worth $6,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new position in shares of 3M during the second quarter worth about $8,594,000. Handelsbanken Fonder AB boosted its position in shares of 3M by 17.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 265,360 shares of the conglomerate’s stock valued at $40,398,000 after purchasing an additional 38,501 shares during the period. BLI Banque de Luxembourg Investments acquired a new stake in shares of 3M in the 2nd quarter valued at about $4,103,000. Allstate Corp purchased a new position in 3M during the 3rd quarter worth approximately $3,087,000. Finally, L & S Advisors Inc increased its position in 3M by 52.5% during the second quarter. L & S Advisors Inc now owns 44,112 shares of the conglomerate’s stock worth $6,716,000 after buying an additional 15,180 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Up 1.1%

MMM stock opened at $166.90 on Friday. The stock has a market capitalization of $87.90 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. The company has a fifty day moving average of $163.74 and a 200-day moving average of $161.42. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. 3M Company has a one year low of $121.98 and a one year high of $177.41.

3M (NYSE:MMM) last issued its quarterly 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. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.03 billion. 3M had a net margin of 13.03% and a return on equity of 95.36%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, analysts expect that 3M Company will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 13th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. This is an increase from 3M’s previous quarterly dividend of $0.73. 3M’s payout ratio is 52.00%.

Insider Buying and Selling at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the transaction, the chief accounting officer owned 2,585 shares of the company’s stock, valued at $446,558.75. This represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MMM. Deutsche Bank Aktiengesellschaft increased their price objective on 3M from $179.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. Wolfe Research decreased their price target on shares of 3M from $197.00 to $196.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Weiss Ratings lowered shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 4th. Barclays increased their target price on shares of 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Citigroup lowered their price target on 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $175.36.

3M Profile

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).