Andra AP fonden Sells 91,800 Shares of 3M Company $MMM

Key Points

• Andra AP fonden cut its 3M stake by 55.3%, selling 91,800 shares during the second quarter and retaining 74,293 shares valued at approximately $12.0 million. Institutional investors and hedge funds collectively own 65.25% of 3M.
• 3M reported quarterly earnings of $2.40 per share on $6.50 billion in revenue, beating analyst estimates, while revenue increased 2.5% year over year. The company maintained a quarterly dividend of $0.78 per share, representing a 1.8% yield.
• Analyst sentiment remains mixed, with eight Buy, five Hold, and two Sell ratings; the stock has a consensus rating of Hold and an average price target of $177.21.

Andra AP fonden lowered its position in shares of 3M Company (NYSE:MMM - Free Report) by 55.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,293 shares of the conglomerate's stock after selling 91,800 shares during the quarter. Andra AP fonden's holdings in 3M were worth $12,029,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. State Street Corp lifted its stake in shares of 3M by 0.4% in the 2nd quarter. State Street Corp now owns 27,828,966 shares of the conglomerate's stock valued at $4,505,788,000 after purchasing an additional 105,222 shares during the period. Amundi raised its holdings in shares of 3M by 67.0% during the second quarter. Amundi now owns 4,536,148 shares of the conglomerate's stock worth $734,448,000 after acquiring an additional 1,819,178 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 3M by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate's stock valued at $637,202,000 after purchasing an additional 270,458 shares in the last quarter. SG Americas Securities LLC lifted its stake in 3M by 653.6% in the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate's stock valued at $344,178,000 after acquiring an additional 2,055,419 shares in the last quarter. Finally, National Pension Service boosted its holdings in 3M by 3.6% during the second quarter. National Pension Service now owns 1,401,543 shares of the conglomerate's stock worth $226,924,000 after purchasing an additional 48,167 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

Shares of NYSE MMM opened at $169.04 on Wednesday. 3M Company has a twelve month low of $139.34 and a twelve month high of $184.90. The company has a market capitalization of $87.18 billion, a PE ratio of 30.02, a PEG ratio of 2.17 and a beta of 1.01. The stock's 50 day moving average price is $173.13 and its 200-day moving average price is $159.33. 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 posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. The company 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 firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, equities analysts anticipate that 3M Company will post 8.96 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders 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 yield of 1.8%. 3M's payout ratio is 55.42%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MMM. The Goldman Sachs Group reissued a "buy" rating on shares of 3M in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of 3M from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. UBS Group lifted their price target on shares of 3M from $190.00 to $218.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Sanford C. Bernstein raised their target price on 3M from $140.00 to $145.00 and gave the company an "underperform" rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised 3M from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $178.00 to $180.00 in a report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of "Hold" and a consensus 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.

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