Nykredit A S Purchases New Shares in 3M Company $MMM

Key Points

• Nykredit A/S acquired 119,755 shares of 3M worth approximately $19.4 million in the second quarter. Institutional investors collectively own 65.25% of the company, with several other major firms increasing their positions.
• Analyst sentiment remains mixed: eight analysts rate 3M a Buy, five a Hold, and two a Sell. The stock has an average rating of Hold and an average price target of $177.21.
• 3M reported quarterly EPS of $2.40, beating estimates of $2.25, while revenue rose 2.5% year over year to $6.50 billion. The company also maintains a quarterly dividend of $0.78 per share, equivalent to a 1.9% yield.

Nykredit A S acquired a new stake in shares of 3M Company (NYSE:MMM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 119,755 shares of the conglomerate's stock, valued at approximately $19,390,000.

A number of other large investors have also recently made changes to their positions in the business. Brown Lisle Cummings Inc. raised its position in 3M by 8.3% during the second quarter. Brown Lisle Cummings Inc. now owns 9,829 shares of the conglomerate's stock valued at $1,591,000 after purchasing an additional 752 shares during the period. Corient Private Wealth LP lifted its stake in shares of 3M by 2.0% in the 2nd quarter. Corient Private Wealth LP now owns 288,761 shares of the conglomerate's stock valued at $46,754,000 after purchasing an additional 5,638 shares during the last quarter. Amundi boosted its holdings in shares of 3M by 67.0% in the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate's stock worth $734,448,000 after purchasing an additional 1,819,178 shares during the period. Wellington Grp LLC boosted its holdings in shares of 3M by 63.2% in the 2nd quarter. Wellington Grp LLC now owns 5,335 shares of the conglomerate's stock worth $864,000 after purchasing an additional 2,067 shares during the period. Finally, Ameritas Advisory Services LLC increased its position in shares of 3M by 163.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 11,465 shares of the conglomerate's stock valued at $1,856,000 after purchasing an additional 7,108 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MMM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $192.00 price target on shares of 3M in a report on Wednesday, July 22nd. Citigroup boosted their price objective on shares of 3M from $166.00 to $183.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of 3M from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. Mizuho raised their target price on shares of 3M from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Finally, Wolfe Research reaffirmed an "outperform" rating on shares of 3M in a research note on Thursday, July 9th. 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $177.21.

3M Trading Up 0.7%

Shares of NYSE MMM opened at $165.87 on Friday. 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 $85.54 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 2.18 and a beta of 1.01. The business's 50 day moving average price is $172.73 and its 200-day moving average price is $159.24.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.15. The company had revenue of $6.50 billion during the quarter, compared to analysts' expectations of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.3M's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, sell-side analysts expect that 3M Company will post 8.96 earnings per share for the current year.

3M Dividend Announcement

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

Insider Activity

In other news, insider Karin Chavez sold 3,635 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider directly owned 14,035 shares in the company, valued at approximately $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

3M Company 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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