3M Company $MMM Shares Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP raised its holdings in shares of 3M Company (NYSE:MMM) by 74.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 287,652 shares of the conglomerate’s stock after buying an additional 122,368 shares during the period. 3M comprises approximately 0.6% of Engineers Gate Manager LP’s investment portfolio, making the stock its 19th biggest position. Engineers Gate Manager LP owned approximately 0.06% of 3M worth $46,574,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in shares of 3M by 16,438.5% in the 2nd quarter. California State Teachers Retirement System now owns 129,994,625 shares of the conglomerate’s stock worth $21,047,430,000 after acquiring an additional 129,208,611 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of 3M by 653.6% during the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after purchasing an additional 2,055,419 shares during the last quarter. Amundi lifted its holdings in shares of 3M by 67.0% during the second quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock valued at $734,448,000 after purchasing an additional 1,819,178 shares during the last quarter. Ascentis Wealth Management LLC boosted its position in shares of 3M by 22,972.5% in the 2nd quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock valued at $56,259,000 after purchasing an additional 345,966 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 3M by 7.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock worth $637,202,000 after purchasing an additional 270,458 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 0.7%

NYSE:MMM opened at $167.43 on Wednesday. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90. The stock’s 50-day moving average is $171.80 and its two-hundred day moving average is $159.29. The stock has a market cap of $86.34 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, equities research analysts forecast that 3M Company will post 8.96 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be given a $0.78 dividend. The ex-dividend date is Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a yield of 1.9%. 3M’s dividend payout ratio is presently 55.42%.

Insider Activity

In other 3M news, insider Karin Chavez sold 3,635 shares of 3M 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 owned 14,035 shares of the company’s stock, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on MMM. Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $178.00 to $180.00 in a research report on Friday, July 17th. Weiss Ratings upgraded shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Royal Bank Of Canada upped their price target on shares of 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Finally, Sanford C. Bernstein raised their price objective on shares of 3M from $140.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $177.21.

3M Profile

3M Company is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it initially supplied abrasives and other materials before expanding into a broad range of science-based products and technologies.

The company develops products for industrial, transportation, electronics, safety and consumer markets. Its offerings include personal protective equipment, industrial adhesives and tapes, abrasives, filtration products, electrical materials, automotive solutions, medical and dental products, and consumer brands such as Post-it Notes and Scotch products.