Whittier Trust Co. of Nevada Inc. Sells 2,852 Shares of 3M Company $MMM

Whittier Trust Co. of Nevada Inc. lowered its holdings in 3M Company (NYSE:MMM) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,164 shares of the conglomerate’s stock after selling 2,852 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in 3M were worth $4,450,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MMM. FSA Advisors Inc. bought a new position in shares of 3M in the fourth quarter worth approximately $1,625,000. PFA Pension Forsikringsaktieselskab purchased a new stake in 3M in the fourth quarter valued at approximately $65,009,000. Catalyst Funds Management Pty Ltd lifted its position in 3M by 260.4% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate’s stock valued at $2,770,000 after purchasing an additional 12,500 shares during the last quarter. Entropy Technologies LP bought a new stake in 3M during the first quarter valued at approximately $10,945,000. Finally, SG Americas Securities LLC grew its stake in 3M by 653.6% in the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after buying an additional 2,055,419 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of 3M stock in a transaction on 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 owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MMM shares. The Goldman Sachs Group reissued a “buy” rating on shares of 3M in a report on Wednesday, July 22nd. Sanford C. Bernstein lifted their price objective on shares of 3M from $140.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada upped their target price on shares of 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 22nd. UBS Group increased their target price on 3M from $190.00 to $218.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded 3M from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.21.

3M Stock Down 0.6%

Shares of MMM opened at $182.66 on Friday. 3M Company has a 1 year low of $139.34 and a 1 year high of $184.90. 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 stock has a 50 day simple moving average of $166.38 and a two-hundred day simple moving average of $157.90. The firm has a market cap of $94.20 billion, a P/E ratio of 32.44, a P/E/G ratio of 2.23 and a beta of 1.01.

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

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).