14,356 3M Company $MMM Shares Bought by Leverty Financial Group LLC

Key Points

• Leverty Financial Group increased its 3M stake by 76.5% in the third quarter, purchasing 14,356 additional shares for a total of 33,110 shares valued at approximately $5.44 million.
• Institutional investors own 65.25% of 3M, while analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $181.36.
• 3M reported quarterly earnings of $2.40 per share and revenue of $6.50 billion, exceeding estimates, and maintains a quarterly dividend of $0.78, equivalent to a 1.9% annualized yield.

Leverty Financial Group LLC increased its holdings in 3M Company (NYSE:MMM - Free Report) by 76.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,110 shares of the conglomerate's stock after acquiring an additional 14,356 shares during the period. 3M comprises 1.0% of Leverty Financial Group LLC's investment portfolio, making the stock its 15th biggest holding. Leverty Financial Group LLC's holdings in 3M were worth $5,435,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New Covenant Trust Company N.A. lifted its position in shares of 3M by 10.8% during the 3rd quarter. New Covenant Trust Company N.A. now owns 1,837 shares of the conglomerate's stock worth $302,000 after buying an additional 179 shares in the last quarter. Quintet Private Bank Europe S.A. grew its holdings in shares of 3M by 113.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 12,820 shares of the conglomerate's stock valued at $2,104,000 after acquiring an additional 6,820 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of 3M by 2.7% during the third quarter. Toth Financial Advisory Corp now owns 32,958 shares of the conglomerate's stock valued at $5,410,000 after acquiring an additional 867 shares during the last quarter. Venture Visionary Partners LLC increased its position in shares of 3M by 1.1% during the third quarter. Venture Visionary Partners LLC now owns 10,180 shares of the conglomerate's stock valued at $1,671,000 after acquiring an additional 110 shares during the last quarter. Finally, Cooper Financial Group lifted its holdings in 3M by 23.9% during the third quarter. Cooper Financial Group now owns 1,674 shares of the conglomerate's stock worth $275,000 after acquiring an additional 323 shares during the period. Institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMM. Royal Bank Of Canada boosted their price objective on 3M from $123.00 to $132.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upgraded 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 note on Friday, July 17th. The Goldman Sachs Group reissued a "buy" rating on shares of 3M in a report on Wednesday, July 22nd. Wolfe Research restated an "outperform" rating on shares of 3M in a research report on Thursday, July 9th. Finally, 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 report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, 3M presently has a consensus rating of "Hold" and an average price target of $181.36.

Insiders Place Their Bets

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

3M Stock Performance

3M stock traded up $0.56 during midday trading on Thursday, reaching $162.68. The stock had a trading volume of 851,684 shares, compared to its average volume of 3,691,113. 3M Company has a 12 month low of $139.34 and a 12 month high of $184.90. The firm's 50-day moving average price is $172.31 and its 200 day moving average price is $160.49. The firm has a market capitalization of $83.90 billion, a PE ratio of 28.91, a P/E/G ratio of 2.29 and a beta of 0.99. 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 - Get Free Report) last issued its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.15. The firm 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 company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, research analysts predict that 3M Company will post 8.97 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were issued a $0.78 dividend. 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 (DPR) is 55.42%.

3M Profile

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.

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