Nykredit A S purchased a new stake in 3M Company (NYSE:MMM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 132,498 shares of the conglomerate's stock, valued at approximately $21,453,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 3M by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate's stock worth $637,202,000 after purchasing an additional 270,458 shares during the period. SG Americas Securities LLC lifted its stake in 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate's stock valued at $344,178,000 after buying an additional 2,055,419 shares during the period. Ascentis Wealth Management LLC lifted its stake in 3M by 22,972.5% in the second quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate's stock valued at $56,259,000 after buying an additional 345,966 shares during the period. Handelsbanken Fonder AB boosted its holdings in 3M by 1.5% during the fourth quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate's stock worth $43,511,000 after buying an additional 4,101 shares during the last quarter. Finally, Braun Stacey Associates Inc. boosted its holdings in 3M by 2.7% during the second quarter. Braun Stacey Associates Inc. now owns 186,491 shares of the conglomerate's stock worth $30,195,000 after buying an additional 4,895 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.
Insider Transactions at 3M
In other 3M news, insider 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 value of $663,423.85. Following the sale, the insider owned 14,035 shares of the company's stock, valued at $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 is available through the SEC website. Company insiders own 0.19% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on MMM. Royal Bank Of Canada upped their price target on 3M from $123.00 to $132.00 and gave the company an "underperform" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group lifted their price objective 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. Wolfe Research restated an "outperform" rating on shares of 3M in a report on Thursday, July 9th. JPMorgan Chase & Co. raised shares of 3M from a "neutral" rating to an "overweight" rating and upped their target price for the company from $178.00 to $180.00 in a research note on Friday, July 17th. Finally, Citigroup increased their target price on shares of 3M from $166.00 to $183.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Eight 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $177.21.
Get Our Latest Stock Report on 3M
3M Stock Performance
Shares of MMM opened at $168.13 on Friday. The firm has a market cap of $86.71 billion, a P/E ratio of 29.86, a PEG ratio of 2.22 and a beta of 1.01. 3M Company has a twelve month low of $139.34 and a twelve month 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 firm's 50 day moving average price is $171.49 and its two-hundred day moving average price is $159.29.
3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data 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 net margin of 11.90% and a return on equity of 115.87%. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The firm'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, analysts forecast that 3M Company will post 8.96 EPS for the current fiscal year.
3M Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, August 24th. 3M's dividend payout ratio is 55.42%.
3M Profile
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Free Report)
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).
See Also
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).
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