National Pension Service Increases Stake in 3M Company $MMM

National Pension Service raised its holdings in shares of 3M Company (NYSE:MMM) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,401,543 shares of the conglomerate’s stock after purchasing an additional 48,167 shares during the quarter. National Pension Service owned approximately 0.27% of 3M worth $226,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in shares of 3M in the second quarter valued at approximately $4,572,000. Engineers Gate Manager LP grew its stake in 3M by 74.0% in the 2nd quarter. Engineers Gate Manager LP now owns 287,652 shares of the conglomerate’s stock valued at $46,574,000 after buying an additional 122,368 shares in the last quarter. Cidel Asset Management Inc. grew its stake in 3M by 3.4% in the 2nd quarter. Cidel Asset Management Inc. now owns 4,488 shares of the conglomerate’s stock valued at $727,000 after buying an additional 149 shares in the last quarter. Capital Analysts LLC raised its holdings in 3M by 2.7% during the 2nd quarter. Capital Analysts LLC now owns 2,576 shares of the conglomerate’s stock valued at $417,000 after acquiring an additional 67 shares during the period. Finally, SVB Wealth LLC raised its holdings in 3M by 1.3% during the 2nd quarter. SVB Wealth LLC now owns 5,484 shares of the conglomerate’s stock valued at $888,000 after acquiring an additional 70 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, insider Karin Chavez sold 3,635 shares of the company’s stock in a transaction that occurred 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 directly owned 14,035 shares in the company, valued at approximately $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

3M Trading Down 0.9%

3M stock opened at $162.86 on Friday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90. The stock has a market cap of $83.99 billion, a P/E ratio of 28.93, a PEG ratio of 2.16 and a beta of 1.01. The firm’s fifty day moving average price is $171.93 and its 200-day moving average price is $159.26.

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

3M Announces Dividend

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

Analyst Upgrades and Downgrades

MMM has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price target on 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $192.00 price objective on shares of 3M in a research note on Wednesday, July 22nd. Jefferies Financial Group raised their target price on 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, June 29th. Sanford C. Bernstein lifted their target price on 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of 3M in a research report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, 3M presently has an average rating of “Hold” and an average price target of $177.21.

3M Profile

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.