NEOS Investment Management LLC Raises Position in 3M Company $MMM

NEOS Investment Management LLC increased its stake in 3M Company (NYSE:MMM) by 13.1% during the second quarter, HoldingsChannel reports. The firm owned 85,967 shares of the conglomerate’s stock after acquiring an additional 9,965 shares during the period. NEOS Investment Management LLC’s holdings in 3M were worth $13,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of MMM. SG Americas Securities LLC lifted its stake in 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after purchasing an additional 2,055,419 shares during the last quarter. Ascentis Wealth Management LLC increased its position in 3M by 22,972.5% in the second quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock worth $56,259,000 after buying an additional 345,966 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 3M by 7.4% in 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 valued at $637,202,000 after buying an additional 270,458 shares during the period. Nykredit A S bought a new stake in shares of 3M in the second quarter valued at $21,453,000. Finally, Entropy Technologies LP purchased a new position in shares of 3M during the 1st quarter valued at $10,945,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE MMM opened at $168.44 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 $86.87 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01. The stock has a fifty day moving average of $171.58 and a 200-day moving average of $159.35.

3M (NYSE:MMM) last issued its 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 business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities research analysts anticipate that 3M Company will post 8.96 earnings per share for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 24th will be paid 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 yield of 1.9%. 3M’s payout ratio is currently 55.42%.

Insiders Place Their Bets

In other 3M news, insider Karin Chavez sold 3,635 shares of the 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 sale, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded 3M from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $192.00 price objective on shares of 3M in a report on Wednesday, July 22nd. Royal Bank Of Canada increased 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. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $178.00 to $180.00 in a research note on Friday, July 17th. Finally, Mizuho boosted their price target on shares of 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $177.21.

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).