Ascentis Wealth Management LLC Acquires 345,966 Shares of 3M Company $MMM

Ascentis Wealth Management LLC raised its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 22,972.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 347,472 shares of the conglomerate's stock after purchasing an additional 345,966 shares during the period. Ascentis Wealth Management LLC owned 0.07% of 3M worth $56,259,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Commonwealth Retirement Investments LLC bought a new stake in 3M during the 4th quarter valued at $28,000. EQ Wealth Advisors LLC purchased a new stake in shares of 3M during the 4th quarter worth $40,000. Cornerstone Planning Group LLC boosted its position in 3M by 32.1% during the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 71 shares in the last quarter. Sfam LLC bought a new stake in 3M during the fourth quarter valued at about $45,000. Finally, West Paces Advisors Inc. purchased a new position in 3M in the second quarter valued at about $49,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Stock Performance

MMM opened at $182.66 on Friday. 3M Company has a 52-week low of $139.34 and a 52-week high of $184.90. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. The company has a market cap of $94.20 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 2.23 and a beta of 1.01. The firm's 50-day moving average price is $166.38 and its 200-day moving average price is $157.90.

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 the consensus estimate of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. 3M's revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, equities analysts anticipate that 3M Company will post 8.96 EPS for the current fiscal year.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of 3M 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 owned 14,035 shares of the company's stock, valued at approximately $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 can be accessed through this link. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on MMM shares. Royal Bank Of Canada increased their price target on shares of 3M from $123.00 to $132.00 and gave the company an "underperform" rating in a research report on Wednesday, July 22nd. Mizuho boosted their price objective on shares of 3M from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Sanford C. Bernstein increased their target price on shares of 3M from $140.00 to $145.00 and gave the company an "underperform" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of 3M from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of 3M in a report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $177.21.

3M 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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