49,089 Shares in 3M Company $MMM Acquired by Moore Capital Management LP

Key Points

• Moore Capital Management acquired 49,089 shares of 3M worth approximately $7.95 million in the second quarter. Institutional investors collectively own 65.25% of 3M, while corporate insiders own just 0.19%.
• Analyst sentiment remains mixed: eight analysts rate the stock a Buy, five rate it Hold, and two rate it Sell, producing a consensus Hold rating and average price target of $177.21.
• 3M reported quarterly earnings of $2.40 per share, beating estimates, while revenue rose 2.5% year over year to $6.50 billion. The company also declared a quarterly dividend of $0.78 per share, representing a 1.8% yield.

Moore Capital Management LP acquired a new position in 3M Company (NYSE:MMM - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 49,089 shares of the conglomerate's stock, valued at approximately $7,948,000.

A number of other large investors have also recently added to or reduced their stakes in MMM. Commonwealth Retirement Investments LLC purchased a new position in shares of 3M during the fourth quarter valued at $28,000. Cornerstone Planning Group LLC boosted its stake in 3M by 32.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 71 shares during the period. Sfam LLC bought a new stake in shares of 3M in the fourth quarter valued at about $45,000. West Paces Advisors Inc. bought a new position in 3M in the second quarter worth $49,000. Finally, WFA of San Diego LLC bought a new stake in shares of 3M in the 2nd quarter valued at approximately $61,000. 65.25% of the stock is currently owned by institutional investors.

Insider Activity at 3M

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MMM shares. The Goldman Sachs Group reissued a "buy" rating on shares of 3M in a report on Wednesday, July 22nd. UBS Group lifted their price objective on 3M from $190.00 to $218.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Citigroup boosted their price objective on 3M from $166.00 to $183.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Wolfe Research reissued an "outperform" rating on shares of 3M in a research note on Thursday, July 9th. Finally, Weiss Ratings raised shares of 3M from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $177.21.

3M Stock Down 0.1%

Shares of 3M stock opened at $174.14 on Monday. The firm has a market cap of $89.81 billion, a PE ratio of 30.93, a P/E/G ratio of 2.11 and a beta of 1.01. The business's 50 day simple moving average is $171.09 and its 200 day simple moving average is $159.39. 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 Company has a 52-week low of $139.34 and a 52-week high of $184.90.

3M (NYSE:MMM - Get Free Report) last released its quarterly 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 the consensus estimate of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The business's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 EPS. 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 fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.8%. 3M's payout ratio is 55.42%.

3M Company 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).

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