3M Company $MMM Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its 3M holdings by 3.1% in the second quarter, selling 8,957 shares and retaining 280,972 shares worth approximately $45.5 million. Institutional investors collectively own 65.25% of 3M.
• 3M reported quarterly earnings of $2.40 per share, exceeding estimates of $2.25, while revenue rose 2.5% year over year to $6.50 billion. The company reaffirmed fiscal 2026 EPS guidance of $8.80–$8.95.
• Shares opened at $169.37, below the analyst consensus target of $181.21, while analysts maintain a consensus “Hold” rating. 3M also pays a quarterly dividend of $0.78, equivalent to a 1.8% annualized yield.

Envestnet Asset Management Inc. lowered its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,972 shares of the conglomerate's stock after selling 8,957 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of 3M worth $45,492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MMM. State Street Corp lifted its holdings in shares of 3M by 0.4% during the second quarter. State Street Corp now owns 27,828,966 shares of the conglomerate's stock valued at $4,505,788,000 after acquiring an additional 105,222 shares during the period. MAC Alpha Capital Management LP bought a new stake in shares of 3M in the 2nd quarter worth about $353,000. Security National Bank of SO Dak acquired a new stake in shares of 3M during the 2nd quarter worth about $32,000. Reynders McVeigh Capital Management LLC acquired a new stake in shares of 3M during the 2nd quarter worth about $230,000. Finally, Bullseye Investment Management LLC bought a new position in 3M during the 2nd quarter valued at about $52,000. Institutional investors own 65.25% of the company's stock.

Insider Activity

In other news, insider Karin Chavez sold 3,635 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

3M Stock Down 0.1%

Shares of MMM opened at $169.37 on Monday. The business's fifty day moving average price is $173.63 and its two-hundred day moving average price is $159.65. The firm has a market capitalization of $87.35 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.23 and a beta of 1.01. 3M Company has a 52 week low of $139.34 and a 52 week high of $184.90. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24.

3M (NYSE:MMM - Get Free Report) last released 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. 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 the consensus estimate of $6.40 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, analysts predict that 3M Company will post 8.96 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. 3M's dividend payout ratio is 55.42%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company started coverage on shares of 3M in a research report on Thursday. They issued an "equal weight" rating and a $195.00 price target on the stock. Wolfe Research reaffirmed an "outperform" rating on shares of 3M in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $192.00 target price on shares of 3M in a research note on Wednesday, July 22nd. Citigroup boosted their target price on 3M from $166.00 to $183.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised 3M from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $181.21.

3M Company 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.

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