3M Company $MMM Shares Sold by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC decreased its stake in 3M Company (NYSE:MMM) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,703 shares of the conglomerate’s stock after selling 3,269 shares during the period. 3M accounts for 1.9% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 14th largest position. Summit Financial Wealth Advisors LLC’s holdings in 3M were worth $15,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Security National Bank of SO Dak bought a new position in 3M in the 2nd quarter worth about $32,000. Compass Financial Management LLC bought a new stake in shares of 3M during the second quarter valued at approximately $38,000. Cornerstone Planning Group LLC raised its holdings in shares of 3M by 32.1% during the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after buying an additional 71 shares during the last quarter. West Paces Advisors Inc. bought a new stake in shares of 3M during the second quarter valued at approximately $49,000. Finally, Bullseye Investment Management LLC acquired a new position in shares of 3M during the second quarter worth approximately $52,000. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MMM shares. The Goldman Sachs Group restated a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Mizuho upped their price objective on shares of 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. UBS Group increased their target price on shares of 3M from $190.00 to $218.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Citigroup raised 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. Finally, Weiss Ratings downgraded shares of 3M from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $181.71.

3M Stock Up 0.7%

NYSE:MMM traded up $1.15 during trading hours on Thursday, hitting $165.61. 1,207,533 shares of the company’s stock traded hands, compared to its average volume of 3,662,428. The firm has a market cap of $85.41 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.27 and a beta of 0.99. 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 stock’s fifty day moving average price is $170.66 and its two-hundred day moving average price is $161.09.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share 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 for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The company’s revenue for the quarter 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, research analysts expect that 3M Company will post 8.97 earnings per share for the current fiscal year.

3M Dividend Announcement

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

Insider Activity

In other 3M 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 transaction of $663,423.85. Following the completion of the sale, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

About 3M

3M is a diversified technology and manufacturing company that develops products and solutions for industrial, workplace safety, transportation, electronics, consumer and other markets. Its portfolio includes adhesives, abrasives, tapes, films, filtration products, personal protective equipment, reflective materials and advanced materials used in manufacturing and commercial applications.

The company sells a broad range of well-known consumer and office products under brands such as Post-it and Scotch.