3M Company $MMM Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in 3M Company (NYSE:MMM) by 5.8% during the second quarter, Holdings Channel.com reports. The firm owned 282,752 shares of the conglomerate’s stock after selling 17,419 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in 3M were worth $45,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock worth $1,149,000 after acquiring an additional 1,872 shares in the last quarter. Bison Wealth LLC boosted its position in shares of 3M by 10.2% during the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after purchasing an additional 255 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of 3M by 11.4% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate’s stock worth $3,289,000 after purchasing an additional 2,203 shares in the last quarter. WFA of San Diego LLC acquired a new position in shares of 3M during the 2nd quarter worth $61,000. Finally, Morse Asset Management Inc increased its holdings in shares of 3M by 1.8% in the 2nd quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate’s stock valued at $1,568,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

3M stock opened at $164.83 on Friday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. The stock has a fifty day moving average of $172.02 and a two-hundred day moving average of $159.30. The company has a market capitalization of $85.00 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.14 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.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The company had revenue of $6.50 billion for 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 quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, analysts anticipate that 3M Company will post 8.96 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders 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 dividend yield of 1.9%. 3M’s payout ratio is currently 55.42%.

Insider Activity

In other 3M news, insider Karin Chavez sold 3,635 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MMM. UBS Group raised their price objective on shares of 3M from $190.00 to $218.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Mizuho boosted their price target on 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada upped their price target on 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $178.00 to $180.00 in a research note on Friday, July 17th. Finally, Citigroup lifted their price objective on 3M from $166.00 to $183.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.