3M (NYSE:MMM) Issues Quarterly Earnings Results

3M (NYSE:MMM) announced its quarterly earnings data on Tuesday. The conglomerate reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.13, Briefing.com reports. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.40 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. 3M updated its FY 2026 guidance to 8.800-8.950 EPS.

3M Stock Down 0.2%

MMM stock opened at $159.60 on Tuesday. The business’s fifty day moving average price is $156.43 and its two-hundred day moving average price is $156.09. The stock has a market capitalization of $83.24 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.25 and a beta of 1.02. 3M has a fifty-two week low of $139.34 and a fifty-two week high of $177.41. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.59 and a quick ratio of 1.19.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were given a dividend of $0.78 per share. The ex-dividend date was Friday, May 22nd. This represents a $3.12 annualized dividend and a yield of 2.0%. 3M’s dividend payout ratio (DPR) is presently 60.12%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group upgraded 3M to a “buy” rating and set a $190.00 price target for the company in a report on Monday, June 15th. Citigroup decreased their target price on 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Wells Fargo & Company lifted their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. HSBC increased their price objective on shares of 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Seven investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. American Trust raised its position in 3M by 3.4% in the 4th quarter. American Trust now owns 1,803 shares of the conglomerate’s stock worth $289,000 after buying an additional 60 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in 3M by 1.0% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after purchasing an additional 61 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of 3M by 2.4% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 3,250 shares of the conglomerate’s stock valued at $520,000 after buying an additional 75 shares during the period. Bank of Jackson Hole Trust boosted its stake in shares of 3M by 12.5% in the 4th quarter. Bank of Jackson Hole Trust now owns 821 shares of the conglomerate’s stock worth $131,000 after buying an additional 91 shares during the last quarter. Finally, Triumph Capital Management grew its holdings in shares of 3M by 6.8% in the third quarter. Triumph Capital Management now owns 1,565 shares of the conglomerate’s stock worth $243,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

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).