North Star Asset Management Inc. Purchases New Position in 3M Company $MMM

North Star Asset Management Inc. purchased a new stake in shares of 3M Company (NYSE:MMM) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,795 shares of the conglomerate’s stock, valued at approximately $1,424,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMM. FSA Advisors Inc. bought a new position in shares of 3M in the fourth quarter valued at approximately $1,625,000. PFA Pension Forsikringsaktieselskab bought a new stake in 3M during the fourth quarter worth $65,009,000. Catalyst Funds Management Pty Ltd grew its holdings in 3M by 260.4% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate’s stock worth $2,770,000 after buying an additional 12,500 shares in the last quarter. Entropy Technologies LP purchased a new stake in 3M in the 1st quarter valued at $10,945,000. Finally, Wealth Architects LLC raised its position in 3M by 1,610.6% in the 2nd quarter. Wealth Architects LLC now owns 27,267 shares of the conglomerate’s stock valued at $4,415,000 after buying an additional 25,673 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Down 0.6%

Shares of NYSE:MMM opened at $178.93 on Friday. The company has a market capitalization of $92.28 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.01. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. The business has a fifty day moving average price of $170.82 and a two-hundred day moving average price of $159.36. 3M Company has a 1 year low of $139.34 and a 1 year high of $184.90.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Analysts forecast that 3M Company will post 8.96 earnings per share for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.7%. 3M’s payout ratio is currently 55.42%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Weiss Ratings upgraded shares of 3M from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Sanford C. Bernstein raised their price target on shares of 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $192.00 price target on shares of 3M in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada increased their price objective on shares of 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research note on Wednesday, July 22nd. 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 company’s stock. According to data from MarketBeat.com, 3M has an average rating of “Hold” and an average price target of $177.21.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the business’s 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 transaction, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. The trade was 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 through the SEC website. 0.19% of the stock is currently owned by insiders.

3M Profile

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).