North Star Asset Management Inc. Invests $1.42 Million in 3M Company $MMM

Key Points

• North Star Asset Management purchased 8,795 shares of 3M worth approximately $1.42 million in the second quarter. Institutional investors collectively own 65.25% of MMM.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $177.21; ratings include eight Buys, five Holds, and two Sells.
• 3M exceeded quarterly earnings and revenue expectations, reporting $2.40 in EPS and $6.50 billion in revenue. The company also declared a quarterly dividend of $0.78 per share, representing a 1.7% yield.

North Star Asset Management Inc. bought a new stake in 3M Company (NYSE:MMM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,795 shares of the conglomerate's stock, valued at approximately $1,424,000.

Other institutional investors have also bought and sold shares of the company. FSA Advisors Inc. bought a new position in shares of 3M in the 4th quarter worth about $1,625,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of 3M during the 4th quarter valued at about $65,009,000. Catalyst Funds Management Pty Ltd boosted its position 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 valued at $2,770,000 after purchasing an additional 12,500 shares in the last quarter. Entropy Technologies LP acquired a new stake in 3M during the first quarter worth approximately $10,945,000. Finally, Wealth Architects LLC grew its stake in 3M by 1,610.6% during 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 during the period. Institutional investors own 65.25% of the company's stock.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of 3M stock in a transaction 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 completion of the sale, the insider owned 14,035 shares of the company's stock, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MMM. Sanford C. Bernstein boosted their price target on 3M from $140.00 to $145.00 and gave the company an "underperform" rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. raised shares of 3M from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $178.00 to $180.00 in a research report on Friday, July 17th. 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 research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $192.00 target price on shares of 3M in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group increased their target price on shares of 3M from $170.00 to $175.00 and gave the stock a "hold" rating in a research note on Monday, June 29th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $177.21.

3M Stock Down 0.6%

MMM stock opened at $178.93 on Friday. The stock's 50 day simple moving average is $170.82 and its 200 day simple moving average is $159.36. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. The company has a market cap of $92.28 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.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 prior year, the company earned $2.16 earnings per share. The company's quarterly revenue was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, research analysts expect that 3M Company will post 8.96 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 24th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 24th. 3M's dividend payout ratio (DPR) is currently 55.42%.

3M Company 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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