Wedbush Securities Inc. Cuts Position in 3M Company $MMM

Wedbush Securities Inc. trimmed its position in shares of 3M Company (NYSE:MMM) by 32.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,625 shares of the conglomerate’s stock after selling 6,007 shares during the period. Wedbush Securities Inc.’s holdings in 3M were worth $1,959,000 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 recently modified their holdings of the company. Collier Financial purchased a new stake in 3M during the third quarter valued at $52,000. Prime Capital Investment Advisors LLC grew its holdings in 3M by 0.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 27,417 shares of the conglomerate’s stock valued at $4,255,000 after purchasing an additional 100 shares during the last quarter. Waterloo Capital L.P. lifted its stake in shares of 3M by 3.0% during the 3rd quarter. Waterloo Capital L.P. now owns 23,865 shares of the conglomerate’s stock worth $3,703,000 after acquiring an additional 704 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of 3M by 6.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,905 shares of the conglomerate’s stock worth $3,554,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Westside Investment Management Inc. raised its stake in shares of 3M by 77.4% during the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after acquiring an additional 106 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 5,145 shares of 3M 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 owned 2,585 shares of the company’s stock, valued at $446,558.75. The trade was a 66.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MMM shares. Morgan Stanley boosted their price target on 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $182.00 price target on shares of 3M in a report on Friday, January 16th. Wolfe Research cut their price objective on shares of 3M from $197.00 to $196.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. UBS Group boosted their price objective on 3M from $184.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on 3M from $179.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Five research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $175.36.

3M Price Performance

3M stock opened at $174.65 on Friday. 3M Company has a 12-month low of $121.98 and a 12-month high of $177.41. The stock has a market cap of $91.99 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.42 and a beta of 1.09. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The company has a fifty day simple moving average of $163.59 and a 200-day simple moving average of $160.55.

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

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. This is a positive change from 3M’s previous quarterly dividend of $0.73. The ex-dividend date is Friday, February 13th. 3M’s payout ratio is currently 48.67%.

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).