3M (NYSE:MMM) Issues Earnings Results

3M (NYSE:MMM) announced its earnings results on Tuesday. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.03, Zacks reports. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.03 billion. 3M had a net margin of 13.03% and a return on equity of 96.58%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. 3M updated its FY 2026 guidance to 8.50-8.700 EPS.

Here are the key takeaways from 3M’s conference call:

• 3M finished 2025 with strong financials — organic sales +2.1% (Q4 +2.2%), full-year adjusted operating margin 23.4%, adjusted EPS $8.06, and free cash flow conversion >100%, and 2026 guidance targets ~3% organic growth and EPS of $8.50–$8.70.
• Commercial excellence and innovation drove outperformance: the company launched 284 new products in 2025 (up 68% y/y), saw five?year product sales up 23%, closed ~$50M of annualized cross?sell wins, and plans 350 launches in 2026.
• Operational improvements are translating to better service and margins — OTIF above 90%, OEE ~63% (up ~300 bps), cost of poor quality down to 6% with a 2026 target of 5.4%, and ~$550–$600M of productivity gains driving margin expansion.
• Headwinds remain: PFAS stranded costs, tariffs (existing carryover and potential new tariffs with preliminary estimates of incremental impact), elevated transformation and growth investments (~$225M incremental in 2026), and consumer/roofing and some auto weakness that weighed on Q4.
• Capital return and portfolio actions: 3M returned $4.8B in 2025 (dividends + buybacks), remains committed to its multi?year capital plan and expects ~$2.5B gross repurchases in 2026 while pursuing footprint and portfolio transformation to lift long?term margins.

3M Stock Down 0.2%

Shares of MMM opened at $155.83 on Thursday. The company’s 50-day simple moving average is $165.57 and its 200-day simple moving average is $159.63. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.40 and a current ratio of 1.84. 3M has a 1 year low of $121.98 and a 1 year high of $174.69. The stock has a market capitalization of $82.78 billion, a PE ratio of 25.97, a P/E/G ratio of 2.18 and a beta of 1.09.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were paid a dividend of $0.73 per share. The ex-dividend date was Friday, November 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M’s dividend payout ratio is 46.65%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of 3M from $131.00 to $136.00 and gave the stock an “underperform” rating in a research note on Wednesday. Wolfe Research reduced their price objective on 3M from $197.00 to $196.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Citigroup dropped their target price on 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company cut their target price on 3M from $183.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $182.00 target price on shares of 3M in a report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $175.36.

Insider Activity at 3M

In other 3M news, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total value of $2,347,378.28. Following the completion of the transaction, the executive vice president owned 6,162 shares in the company, valued at $1,046,184.36. The trade was a 69.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark W. Murphy sold 19,061 shares of 3M stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total value of $3,174,609.55. Following the completion of the transaction, the executive vice president owned 6,594 shares of the company’s stock, valued at approximately $1,098,230.70. This trade represents a 74.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,516 shares of company stock valued at $7,836,465 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of 3M

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in 3M by 4.5% in the third quarter. NewEdge Advisors LLC now owns 50,066 shares of the conglomerate’s stock worth $7,769,000 after acquiring an additional 2,153 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in 3M by 11.2% in the third quarter. Integrated Wealth Concepts LLC now owns 35,915 shares of the conglomerate’s stock valued at $5,573,000 after buying an additional 3,604 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in 3M by 11.4% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate’s stock valued at $3,289,000 after buying an additional 2,203 shares in the last quarter. Horizon Investments LLC boosted its stake in 3M by 6.2% in the third quarter. Horizon Investments LLC now owns 12,357 shares of the conglomerate’s stock valued at $1,918,000 after acquiring an additional 722 shares in the last quarter. Finally, Morse Asset Management Inc grew its holdings in shares of 3M by 1.8% during the second quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate’s stock worth $1,568,000 after purchasing an additional 185 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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).