3M Company $MMM Shares Purchased by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. increased its stake in shares of 3M Company (NYSE:MMM) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,000 shares of the conglomerate’s stock after buying an additional 7,000 shares during the period. 3M comprises 1.1% of Inspire Trust Co. N.A.’s portfolio, making the stock its 25th largest holding. Inspire Trust Co. N.A.’s holdings in 3M were worth $6,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp acquired a new stake in shares of 3M during the 3rd quarter valued at approximately $34,000. Westside Investment Management Inc. increased its stake in 3M by 77.4% in the 3rd quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 106 shares in the last quarter. Cloud Capital Management LLC acquired a new position in 3M during the third quarter worth $50,000. Collier Financial purchased a new stake in 3M during the third quarter worth $52,000. Finally, WFA of San Diego LLC acquired a new stake in 3M in the second quarter valued at $61,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

NYSE:MMM opened at $166.90 on Friday. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.71 and a quick ratio of 1.33. The firm has a market cap of $87.90 billion, a PE ratio of 27.82, a P/E/G ratio of 2.34 and a beta of 1.09. The firm has a 50 day simple moving average of $163.74 and a 200-day simple moving average of $161.42. 3M Company has a 1-year low of $121.98 and a 1-year high of $177.41.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.03 billion. 3M had a net margin of 13.03% and a return on equity of 95.36%. 3M’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, equities analysts expect that 3M Company will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 13th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 13th. This is an increase from 3M’s previous quarterly dividend of $0.73. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s payout ratio is currently 52.00%.

Insiders Place Their Bets

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the transaction, the chief accounting officer directly owned 2,585 shares in the company, valued at approximately $446,558.75. This represents a 66.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the subject of several research reports. Wells Fargo & Company cut their price target on 3M from $183.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Wolfe Research cut their target price on shares of 3M from $197.00 to $196.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Mizuho set a $160.00 price target on shares of 3M in a research report on Wednesday, January 21st. Weiss Ratings cut shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on 3M from $179.00 to $181.00 and gave the company a “hold” rating in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $175.36.

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).