Raiffeisen Bank International AG Sells 5,726 Shares of 3M Company $MMM

Raiffeisen Bank International AG lowered its holdings in shares of 3M Company (NYSE:MMM) by 33.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,398 shares of the conglomerate’s stock after selling 5,726 shares during the period. Raiffeisen Bank International AG’s holdings in 3M were worth $1,851,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC bought a new position in shares of 3M during the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC increased its stake in shares of 3M by 32.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 71 shares in the last quarter. Sfam LLC bought a new stake in shares of 3M in the 4th quarter valued at $45,000. West Paces Advisors Inc. acquired a new position in shares of 3M during the 2nd quarter valued at $49,000. Finally, WFA of San Diego LLC bought a new position in 3M during the second quarter worth $61,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Karin Chavez sold 3,635 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank Of Canada raised their price target on shares of 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. UBS Group increased their price objective on shares of 3M from $190.00 to $218.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $192.00 target price on shares of 3M in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $178.00 to $180.00 in a research report on Friday, July 17th. Finally, Citigroup upped their price target on 3M from $166.00 to $183.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.21.

3M Stock Performance

MMM opened at $168.44 on Friday. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. The company has a market cap of $86.87 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.22 and a beta of 1.01. The company’s fifty day moving average price is $171.58 and its two-hundred day moving average price is $159.35. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, analysts expect that 3M Company will post 8.96 EPS for the current fiscal year.

3M Dividend Announcement

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

3M Company Profile

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).