HighTower Advisors LLC Sells 6,895 Shares of 3M Company $MMM

Key Points

• HighTower Advisors reduced its 3M stake by 2.7%, selling 6,895 shares and retaining 244,722 shares valued at approximately $39.6 million. Institutional investors collectively own 65.25% of 3M.
• Analysts maintain a consensus “Hold” rating on MMM, with an average price target of $177.21; ratings include eight Buys, five Holds, and two Sells.
• 3M exceeded quarterly earnings expectations, reporting $2.40 EPS and $6.50 billion in revenue, while declaring a quarterly dividend of $0.78 per share, or a 1.9% annualized yield.

HighTower Advisors LLC decreased its stake in 3M Company (NYSE:MMM - Free Report) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 244,722 shares of the conglomerate's stock after selling 6,895 shares during the quarter. HighTower Advisors LLC's holdings in 3M were worth $39,623,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. North Star Asset Management Inc. bought a new position in 3M during the second quarter valued at $1,424,000. Moore Capital Management LP purchased a new stake in shares of 3M in the second quarter valued at $7,948,000. Entropy Technologies LP bought a new stake in shares of 3M in the 1st quarter worth about $10,945,000. Catalyst Funds Management Pty Ltd boosted its stake in shares of 3M by 260.4% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate's stock worth $2,770,000 after purchasing an additional 12,500 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of 3M during the 2nd quarter worth about $1,798,000. Institutional investors own 65.25% of the company's stock.

Insider Transactions at 3M

In other 3M news, insider Karin Chavez sold 3,635 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the sale, the insider directly owned 14,035 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MMM has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of 3M in a report on Wednesday, July 22nd. Royal Bank Of Canada boosted their target price on 3M from $123.00 to $132.00 and gave the company an "underperform" rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $192.00 target price on shares of 3M in a research note on Wednesday, July 22nd. Citigroup increased their price target on 3M from $166.00 to $183.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Finally, Mizuho raised their price target on 3M from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $177.21.

3M Trading Down 0.7%

MMM opened at $167.43 on Wednesday. The firm has a market cap of $86.34 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.22 and a beta of 1.01. The stock has a fifty day moving average price of $171.80 and a 200-day moving average price of $159.29. 3M Company has a 12 month low of $139.34 and a 12 month high of $184.90. 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 released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.15. The business had revenue of $6.50 billion for the quarter, compared to analysts' expectations of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The company's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, equities research analysts anticipate that 3M Company will post 8.96 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 24th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 24th. 3M's dividend payout ratio is currently 55.42%.

3M Profile

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.

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