State Street Corp Acquires 105,222 Shares of 3M Company $MMM

Key Points

• State Street increased its 3M stake by 105,222 shares in the second quarter, bringing its holdings to 27.83 million shares worth approximately $4.51 billion, or 5.4% of the company. Institutional investors collectively own 65.25% of 3M.
• 3M exceeded quarterly expectations, reporting $2.40 in earnings per share on $6.50 billion in revenue, while raising or maintaining full-year 2026 guidance at $8.80–$8.95 EPS. The company’s revenue grew 2.5% year over year.
• 3M maintains a quarterly dividend of $0.78, equivalent to a 1.9% yield. Analysts are mixed, with an overall “Hold” rating and an average price target of $177.21.

State Street Corp grew its holdings in 3M Company (NYSE:MMM - Free Report) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,828,966 shares of the conglomerate's stock after acquiring an additional 105,222 shares during the period. State Street Corp owned 5.40% of 3M worth $4,505,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. MAC Alpha Capital Management LP purchased a new stake in 3M in the second quarter worth about $353,000. Security National Bank of SO Dak purchased a new position in shares of 3M during the 2nd quarter valued at about $32,000. Reynders McVeigh Capital Management LLC bought a new position in shares of 3M during the 2nd quarter valued at approximately $230,000. Bullseye Investment Management LLC bought a new position in shares of 3M during the 2nd quarter valued at approximately $52,000. Finally, Bouchey Financial Group Ltd. purchased a new stake in 3M in the 2nd quarter worth approximately $242,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Buying and Selling at 3M

In related news, insider Karin Chavez sold 3,635 shares of the business's 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 sale, the insider owned 14,035 shares in the company, valued at approximately $2,561,527.85. The trade was a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company's stock.

3M Price Performance

MMM stock traded up $2.96 during mid-day trading on Tuesday, hitting $167.93. The company had a trading volume of 790,208 shares, compared to its average volume of 3,737,804. The company has a 50-day moving average price of $172.88 and a 200 day moving average price of $159.27. 3M Company has a 12-month low of $139.34 and a 12-month high of $184.90. The company has a market capitalization of $86.61 billion, a price-to-earnings ratio of 29.89, a P/E/G ratio of 2.18 and a beta of 1.01. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, research analysts anticipate that 3M Company will post 8.96 earnings per share for the current year.

3M Announces Dividend

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

Wall Street Analyst Weigh In

MMM has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of 3M from $190.00 to $218.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group reissued a "buy" rating on shares of 3M in a research note on Wednesday, July 22nd. Citigroup lifted their target price on shares of 3M from $166.00 to $183.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $192.00 price target on shares of 3M in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group raised their price target on 3M from $170.00 to $175.00 and gave the company a "hold" rating in a report on Monday, June 29th. Eight research 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 MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $177.21.

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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