Birmingham Capital Management Co. Inc. AL Purchases New Position in 3M Company $MMM

Birmingham Capital Management Co. Inc. AL acquired a new position in 3M Company (NYSE:MMM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,366 shares of the conglomerate's stock, valued at approximately $4,593,000. 3M comprises approximately 1.7% of Birmingham Capital Management Co. Inc. AL's holdings, making the stock its 17th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in MMM. SG Americas Securities LLC grew its position in 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate's stock worth $344,178,000 after acquiring an additional 2,055,419 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of 3M during the 4th quarter valued at $65,009,000. Ascentis Wealth Management LLC lifted its stake in shares of 3M by 22,972.5% in the 2nd quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate's stock valued at $56,259,000 after purchasing an additional 345,966 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of 3M in the 1st quarter valued at $10,945,000. Finally, Wealth Architects LLC boosted its holdings in 3M by 1,610.6% in the second quarter. Wealth Architects LLC now owns 27,267 shares of the conglomerate's stock worth $4,415,000 after purchasing an additional 25,673 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

Shares of NYSE MMM opened at $180.02 on Thursday. 3M Company has a 12 month low of $139.34 and a 12 month high of $184.90. The company has a market cap of $92.84 billion, a P/E ratio of 31.98, a P/E/G ratio of 2.17 and a beta of 1.01. The business's 50 day moving average is $170.47 and its two-hundred day moving average is $159.31. 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 announced its earnings results 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. 3M had a net margin of 11.90% and a return on equity of 115.87%. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the firm posted $2.16 earnings per share. 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. On average, equities analysts expect that 3M Company will post 8.96 EPS for the current year.

3M Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.7%. 3M's dividend payout ratio is currently 55.42%.

Insider Buying and Selling at 3M

In related 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 sale, the insider directly owned 14,035 shares of the company's stock, valued at $2,561,527.85. This trade represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MMM. Wolfe Research reaffirmed an "outperform" rating on shares of 3M in a research report on Thursday, July 9th. Weiss Ratings raised 3M from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Royal Bank Of Canada boosted their target price on 3M from $123.00 to $132.00 and gave the stock an "underperform" rating in a report on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of 3M in a research report on Wednesday, July 22nd. Finally, Sanford C. Bernstein lifted their price target 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. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus 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).

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