Amundi Acquires 1,819,178 Shares of 3M Company $MMM

Key Points

• Amundi increased its 3M stake by 67% in the second quarter, acquiring 1,819,178 shares and bringing its total holdings to 4,536,148 shares, worth approximately $734.4 million.
• 3M reported quarterly EPS of $2.40 and revenue of $6.50 billion, beating analyst estimates, while maintaining fiscal 2026 EPS guidance of $8.80–$8.95.
• 3M declared a quarterly dividend of $0.78 per share, equivalent to a $3.12 annualized payout and a 1.9% yield; analysts’ consensus rating remains “Hold,” with an average price target of $177.21.

Amundi grew its holdings in 3M Company (NYSE:MMM - Free Report) by 67.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,536,148 shares of the conglomerate's stock after purchasing an additional 1,819,178 shares during the quarter. Amundi owned about 0.88% of 3M worth $734,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MMM. Brighton Jones LLC increased its holdings in shares of 3M by 26.6% during the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after acquiring an additional 1,872 shares in the last quarter. Bison Wealth LLC raised its holdings in 3M by 10.2% during the fourth quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate's stock worth $355,000 after buying an additional 255 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of 3M by 11.4% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate's stock valued at $3,289,000 after buying an additional 2,203 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of 3M in the second quarter valued at $61,000. Finally, Morse Asset Management Inc grew its holdings in shares of 3M by 1.8% during the second quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate's stock valued at $1,568,000 after buying an additional 185 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Insider Activity at 3M

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

3M Trading Down 0.1%

NYSE MMM opened at $168.44 on Monday. The business's fifty day moving average is $171.58 and its 200-day moving average is $159.26. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. The stock has a market capitalization of $86.87 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.22 and a beta of 1.01. 3M Company has a one year low of $139.34 and a one year high of $184.90.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities research analysts predict that 3M Company will post 8.96 EPS for the current year.

3M Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MMM shares. Jefferies Financial Group raised their price target on shares of 3M from $170.00 to $175.00 and gave the company a "hold" rating in a research report on Monday, June 29th. 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 report on Wednesday, July 22nd. Wolfe Research reissued an "outperform" rating on shares of 3M in a research note on Thursday, July 9th. The Goldman Sachs Group restated a "buy" rating on shares of 3M in a report on Wednesday, July 22nd. Finally, UBS Group lifted their target price on 3M from $190.00 to $218.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, 3M presently has an average rating of "Hold" and a consensus target price of $177.21.

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).

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Company (NYSE:MMM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source