3M Company $MMM Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System lifted its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 802,882 shares of the conglomerate's stock after acquiring an additional 16,868 shares during the quarter. California State Teachers Retirement System owned about 0.16% of 3M worth $129,994,625 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its holdings in shares of 3M by 163.1% in the 2nd quarter. Ameritas Advisory Services LLC now owns 11,465 shares of the conglomerate's stock worth $1,856,000 after purchasing an additional 7,108 shares during the last quarter. Wedmont Private Capital lifted its position in shares of 3M by 18.5% during the 2nd quarter. Wedmont Private Capital now owns 5,203 shares of the conglomerate's stock valued at $820,000 after buying an additional 813 shares during the last quarter. Widmann Financial Services Inc. grew its position in 3M by 6.4% in the second quarter. Widmann Financial Services Inc. now owns 4,280 shares of the conglomerate's stock worth $693,000 after acquiring an additional 256 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of 3M by 1.8% during the second quarter. HB Wealth Management LLC now owns 31,943 shares of the conglomerate's stock valued at $5,172,000 after acquiring an additional 555 shares in the last quarter. Finally, HF Advisory Group LLC increased its position in shares of 3M by 8.3% during the second quarter. HF Advisory Group LLC now owns 1,846 shares of the conglomerate's stock valued at $299,000 after acquiring an additional 142 shares in 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 business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company's stock.

3M Stock Up 1.6%

3M stock traded up $2.60 during trading hours on Tuesday, hitting $164.62. The stock had a trading volume of 2,314,020 shares, compared to its average volume of 3,759,015. 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 stock's 50-day moving average price is $172.07 and its 200-day moving average price is $159.22. The stock has a market capitalization of $84.90 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.01. 3M Company has a 12-month low of $139.34 and a 12-month high of $184.90.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping the consensus estimate of $2.25 by $0.15. The company had revenue of $6.50 billion for 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%.3M's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities research analysts anticipate that 3M Company will post 8.96 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were given 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 1.9%. 3M's payout ratio is 55.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MMM. Royal Bank Of Canada lifted their price objective on shares of 3M from $123.00 to $132.00 and gave the company an "underperform" rating in a report on Wednesday, July 22nd. Mizuho raised their price target 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. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $192.00 price objective on shares of 3M in a report on Wednesday, July 22nd. Sanford C. Bernstein upped their price objective on shares of 3M from $140.00 to $145.00 and gave the company an "underperform" rating in a research note on Wednesday, July 22nd. Finally, Wolfe Research reaffirmed an "outperform" rating on shares of 3M in a research note on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, 3M has a consensus rating of "Hold" and an average target price of $177.21.

About 3M

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.

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.