The Manufacturers Life Insurance Company Decreases Stake in 3M Company $MMM

The Manufacturers Life Insurance Company cut its stake in shares of 3M Company (NYSE:MMM) by 5.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 282,752 shares of the conglomerate’s stock after selling 17,419 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of 3M worth $45,780,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in 3M by 16,438.5% during 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 acquiring an additional 129,208,611 shares in the last quarter. SG Americas Securities LLC lifted its position 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 purchasing an additional 2,055,419 shares during the last quarter. Amundi lifted its position in shares of 3M by 67.0% during the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock worth $734,448,000 after purchasing an additional 1,819,178 shares during the last quarter. Ascentis Wealth Management LLC grew its stake in shares of 3M by 22,972.5% during the second quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock worth $56,259,000 after purchasing an additional 345,966 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 3M by 7.4% during 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 worth $637,202,000 after purchasing an additional 270,458 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 3M news, insider Karin Chavez sold 3,635 shares of the company’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 completion of the sale, the insider directly owned 14,035 shares of the company’s stock, valued at $2,561,527.85. This represents a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

3M Trading Up 1.2%

MMM opened at $164.83 on Friday. 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 52 week low of $139.34 and a 52 week high of $184.90. The business’s 50 day moving average is $172.02 and its two-hundred day moving average is $159.30. The firm has a market cap of $85.00 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. The firm had revenue of $6.50 billion during 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%. 3M’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, research analysts predict that 3M Company will post 8.96 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. 3M’s dividend payout ratio (DPR) is currently 55.42%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wolfe Research restated an “outperform” rating on shares of 3M in a research note on Thursday, July 9th. Weiss Ratings upgraded 3M from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Royal Bank Of Canada raised their target price on 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group restated a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Finally, UBS Group upped their price target on 3M from $190.00 to $218.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.21.

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.