Foster & Motley Inc. Makes New $624,000 Investment in 3M Company $MMM

Foster & Motley Inc. bought a new position in shares of 3M Company (NYSE:MMM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,854 shares of the conglomerate’s stock, valued at approximately $624,000.

A number of other hedge funds also recently bought and sold shares of the business. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of 3M by 0.4% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 70,541 shares of the conglomerate’s stock worth $11,421,000 after purchasing an additional 314 shares during the last quarter. Texas Bank & Trust Co grew its holdings in 3M by 49.2% in the 2nd quarter. Texas Bank & Trust Co now owns 4,212 shares of the conglomerate’s stock valued at $682,000 after buying an additional 1,388 shares in the last quarter. Bank of Stockton grew its holdings in 3M by 4.8% in the 2nd quarter. Bank of Stockton now owns 5,560 shares of the conglomerate’s stock valued at $900,000 after buying an additional 255 shares in the last quarter. Waterloo Capital L.P. increased its stake in shares of 3M by 3.3% in the 2nd quarter. Waterloo Capital L.P. now owns 24,889 shares of the conglomerate’s stock worth $4,030,000 after acquiring an additional 793 shares during the last quarter. Finally, Baldwin Investment Management LLC acquired a new stake in shares of 3M in the 2nd quarter worth $348,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MMM. Citigroup upped their price objective on shares of 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Mizuho upped their price objective on 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Wells Fargo & Company raised their target price on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada lifted their target price on 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Finally, Sanford C. Bernstein increased their price target on 3M from $140.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. Eight 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 company currently has an average rating of “Hold” and a consensus target price of $177.21.

3M Trading Down 0.1%

MMM opened at $180.81 on Thursday. 3M Company has a one year low of $139.34 and a one year high of $184.90. The company has a market cap of $93.25 billion, a P/E ratio of 32.12, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. The business’s 50-day simple moving average is $168.45 and its 200-day simple moving average is $158.57.

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, topping the consensus estimate of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the company posted $2.16 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, equities research analysts expect that 3M Company will post 8.96 EPS for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be given 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 1.7%. 3M’s payout ratio is 55.42%.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the business’s 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 owned 14,035 shares in the company, valued at approximately $2,561,527.85. The trade was a 20.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

3M 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).