NewEdge Advisors LLC Has $49.26 Million Holdings in 3M Company $MMM

NewEdge Advisors LLC lifted its stake in shares of 3M Company (NYSE:MMM) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 304,215 shares of the conglomerate’s stock after acquiring an additional 8,332 shares during the quarter. NewEdge Advisors LLC owned about 0.06% of 3M worth $49,255,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in 3M by 16,438.5% in the 2nd quarter. California State Teachers Retirement System now owns 129,994,625 shares of the conglomerate’s stock worth $21,047,430,000 after purchasing an additional 129,208,611 shares during the last quarter. SG Americas Securities LLC raised its position in shares of 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 purchasing an additional 2,055,419 shares during the period. Amundi raised its position in shares of 3M by 67.0% in the second quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock valued at $734,448,000 after purchasing an additional 1,819,178 shares during the period. Ascentis Wealth Management LLC lifted its stake in shares of 3M by 22,972.5% in the second quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock worth $56,259,000 after buying an additional 345,966 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 3M by 7.4% in 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 buying an additional 270,458 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 1.9%

Shares of 3M stock opened at $164.35 on Thursday. 3M Company has a 1 year low of $139.34 and a 1 year high of $184.90. The company’s fifty day simple moving average is $171.89 and its 200-day simple moving average is $159.29. The company has a market cap of $84.76 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.21 and a beta of 1.01. 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) last released its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating 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 firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the company earned $2.16 EPS. The business’s quarterly 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. As a group, sell-side analysts expect that 3M Company will post 8.96 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is 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 is currently 55.42%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $192.00 target price on shares of 3M in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Citigroup upped their price target on shares of 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and raised their price target for the company from $178.00 to $180.00 in a research report on Friday, July 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, 3M presently has an average rating of “Hold” and an average price target of $177.21.

Insider Buying and Selling at 3M

In related news, insider Karin Chavez sold 3,635 shares of the 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 completion of the sale, the insider 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

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.