MCF Advisors LLC Increases Stock Position in 3M Company $MMM

MCF Advisors LLC raised its stake in shares of 3M Company (NYSE:MMM) by 69.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,870 shares of the conglomerate’s stock after purchasing an additional 4,845 shares during the quarter. MCF Advisors LLC’s holdings in 3M were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. California State Teachers Retirement System increased its holdings in shares of 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 buying an additional 129,208,611 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of 3M by 653.6% during the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after acquiring an additional 2,055,419 shares during the last quarter. Amundi grew its position in 3M by 67.0% in the second quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock worth $734,448,000 after acquiring an additional 1,819,178 shares in the last quarter. Ascentis Wealth Management LLC grew its position in 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 acquiring an additional 345,966 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 valued at $637,202,000 after acquiring an additional 270,458 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MMM shares. Citigroup raised their price target on 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of 3M in a research report on Wednesday, July 22nd. Weiss Ratings raised 3M from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. UBS Group boosted their target price on 3M from $190.00 to $218.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $192.00 target price 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 given a Sell rating to the company. Based on data from MarketBeat, 3M has an average rating of “Hold” and an average price target of $177.21.

Insider Transactions at 3M

In related news, insider Karin Chavez sold 3,635 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the transaction, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

3M Stock Performance

3M stock opened at $164.35 on Thursday. The firm has a fifty day simple moving average of $171.89 and a two-hundred day simple moving average of $159.29. 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 Company has a twelve month low of $139.34 and a twelve month high of $184.90. The company has a market capitalization of $84.76 billion, a PE ratio of 29.19, a P/E/G ratio of 2.21 and a beta of 1.01.

3M (NYSE:MMM) last announced 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. 3M had a return on equity of 115.87% and a net margin of 11.90%.The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the firm earned $2.16 earnings per share. 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. Research analysts expect that 3M Company will post 8.96 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 24th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio is currently 55.42%.

About 3M

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.