L & S Advisors Inc Purchases 14,204 Shares of 3M Company $MMM

L & S Advisors Inc grew its stake in shares of 3M Company (NYSE:MMM) by 32.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 58,316 shares of the conglomerate’s stock after buying an additional 14,204 shares during the period. L & S Advisors Inc’s holdings in 3M were worth $9,049,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of 3M by 12.0% during the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 40,875 shares of the conglomerate’s stock worth $6,218,000 after buying an additional 4,384 shares during the period. Fairfield Financial Advisors LTD acquired a new position in shares of 3M during the 2nd quarter worth about $1,303,000. Segall Bryant & Hamill LLC bought a new stake in shares of 3M during the 2nd quarter worth approximately $8,594,000. Arkadios Wealth Advisors boosted its position in 3M by 10.1% during the second quarter. Arkadios Wealth Advisors now owns 29,218 shares of the conglomerate’s stock worth $4,448,000 after purchasing an additional 2,674 shares during the period. Finally, BLI Banque de Luxembourg Investments acquired a new stake in 3M in the 2nd quarter worth about $4,103,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

MMM stock opened at $164.19 on Thursday. 3M Company has a 52-week low of $121.98 and a 52-week high of $177.41. The firm has a 50 day moving average price of $163.85 and a 200-day moving average price of $161.18. The firm has a market capitalization of $86.48 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.34 and a beta of 1.09. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.03. 3M had a return on equity of 95.36% and a net margin of 13.03%.The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the prior year, the company posted $1.68 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Equities research analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.78 per share. This is a boost from 3M’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Friday, February 13th. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. 3M’s payout ratio is currently 52.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MMM shares. Mizuho set a $160.00 price objective on 3M in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $182.00 price objective on shares of 3M in a research note on Friday, January 16th. UBS Group upped their price objective on 3M from $184.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Citigroup reduced their target price on 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, January 21st. Finally, Weiss Ratings cut shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $175.36.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the sale, the chief accounting officer directly owned 2,585 shares in the company, valued at $446,558.75. The trade was a 66.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

About 3M

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).