Canandaigua National Bank & Trust Co. Takes Position in 3M Company $MMM

Key Points

• Canandaigua National Bank & Trust purchased 13,257 shares of 3M worth approximately $2.15 million, while institutional investors collectively own 65.25% of the company.
• Analyst sentiment remains mixed: eight analysts rate 3M a Buy, five a Hold and two a Sell, producing a consensus Hold rating and an average price target of $177.21.
• 3M beat quarterly expectations with $2.40 in EPS and $6.50 billion in revenue, up 2.5% year over year. The company also pays a quarterly dividend of $0.78 per share, or $3.12 annually, for a 1.7% yield.

Canandaigua National Bank & Trust Co. purchased a new stake in 3M Company (NYSE:MMM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,257 shares of the conglomerate's stock, valued at approximately $2,146,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Trust grew its stake in shares of 3M by 3.4% in the 4th quarter. American Trust now owns 1,803 shares of the conglomerate's stock valued at $289,000 after purchasing an additional 60 shares during the period. Walter & Keenan Wealth Management LLC IN ADV lifted its holdings in 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate's stock valued at $938,000 after purchasing an additional 61 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate's stock valued at $42,000 after buying an additional 71 shares in the last quarter. Morse Asset Management Inc grew its stake in 3M by 0.7% during the fourth quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate's stock worth $1,715,000 after buying an additional 75 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. increased its holdings in shares of 3M by 2.4% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 3,250 shares of the conglomerate's stock worth $520,000 after buying an additional 75 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MMM shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of 3M in a research note on Wednesday, July 22nd. UBS Group upped their price objective on 3M from $190.00 to $218.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Weiss Ratings raised 3M from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Sanford C. Bernstein boosted their price target on shares of 3M from $140.00 to $145.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $192.00 target price 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 given a Sell rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of "Hold" and a consensus price target of $177.21.

3M Stock Performance

Shares of MMM opened at $182.19 on Thursday. The stock has a market capitalization of $93.96 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 2.20 and a beta of 1.01. 3M Company has a 12 month low of $139.34 and a 12 month high of $184.90. The firm has a fifty day simple moving average of $162.77 and a 200 day simple moving average of $157.03. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the previous year, the business earned $2.16 EPS. The company'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. Research analysts forecast that 3M Company will post 8.95 EPS for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 22nd. 3M's dividend payout ratio is presently 55.42%.

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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