AXQ Capital LP Decreases Stock Holdings in 3M Company $MMM

Key Points

• AXQ Capital LP cut its 3M holdings by 80.9% in the second quarter, selling 24,756 shares and retaining 5,830 shares valued at approximately $944,000. Institutional investors collectively own 65.25% of 3M.
• 3M exceeded quarterly expectations, reporting $2.40 in earnings per share on $6.50 billion in revenue, while revenue increased 2.5% year over year. The company reaffirmed 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 have a consensus “Hold” rating with an average price target of $177.21.

AXQ Capital LP cut its holdings in 3M Company (NYSE:MMM - Free Report) by 80.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,830 shares of the conglomerate's stock after selling 24,756 shares during the quarter. AXQ Capital LP's holdings in 3M were worth $944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. High Net Worth Advisory Group LLC bought a new stake in 3M in the second quarter valued at $215,000. Strengthening Families & Communities LLC boosted its stake in shares of 3M by 4.0% during the 2nd quarter. Strengthening Families & Communities LLC now owns 23,570 shares of the conglomerate's stock valued at $3,816,000 after purchasing an additional 907 shares in the last quarter. Nykredit A S purchased a new position in shares of 3M during the second quarter valued at about $21,453,000. Thrive Wealth Management LLC bought a new position in 3M in the second quarter worth about $215,000. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in 3M by 4.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 29,502 shares of the conglomerate's stock worth $4,777,000 after buying an additional 1,378 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

3M Stock Up 0.1%

Shares of 3M stock opened at $168.44 on Friday. 3M Company has a twelve month low of $139.34 and a twelve month 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's 50 day moving average is $171.58 and its 200 day moving average is $159.35. The company has a market cap of $86.87 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 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 revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Research analysts anticipate that 3M Company will post 8.96 EPS for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 dividend yield of 1.9%. 3M's dividend payout ratio is presently 55.42%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MMM shares. Citigroup lifted 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 report on Thursday, July 9th. Jefferies Financial Group raised their target price on 3M from $170.00 to $175.00 and gave the company a "hold" rating in a research note on Monday, June 29th. Royal Bank Of Canada lifted their price target on 3M from $123.00 to $132.00 and gave the company an "underperform" rating in a research report on Wednesday, July 22nd. Finally, Sanford C. Bernstein upped their price target on 3M from $140.00 to $145.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 22nd. 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $177.21.

Insider Buying and Selling at 3M

In other news, insider Karin Chavez sold 3,635 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

About 3M

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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