Canandaigua National Bank & Trust Co. Takes $2.15 Million Position in 3M Company $MMM

Canandaigua National Bank & Trust Co. acquired a new position in shares of 3M Company (NYSE:MMM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,257 shares of the conglomerate’s stock, valued at approximately $2,146,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MMM. SG Americas Securities LLC lifted its holdings in 3M by 653.6% during the 1st 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. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of 3M during the 4th quarter worth about $65,009,000. Handelsbanken Fonder AB lifted its stake in shares of 3M by 1.5% during the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock worth $43,511,000 after buying an additional 4,101 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of 3M by 2.9% during the 4th quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock worth $25,084,000 after buying an additional 4,372 shares during the period. Finally, Willis Investment Counsel boosted its holdings in shares of 3M by 1.5% during the 4th quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock worth $21,796,000 after buying an additional 2,077 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Price Performance

3M stock opened at $182.19 on Thursday. The stock’s fifty day moving average price is $162.77 and its two-hundred day moving average price is $157.03. The firm has a market cap of $93.96 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 2.20 and a beta of 1.01. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. 3M Company has a one year low of $139.34 and a one year high of $184.90.

3M (NYSE:MMM) last issued its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. The company 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 for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, research analysts expect that 3M Company will post 8.95 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were paid 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 1.7%. 3M’s dividend payout ratio is presently 55.42%.

Analyst Upgrades and Downgrades

MMM has been the topic of several research analyst reports. Wolfe Research reissued an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $192.00 target price on shares of 3M in a research report on Wednesday, July 22nd. Wells Fargo & Company increased 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. UBS Group lifted their price target on 3M from $190.00 to $218.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, HSBC boosted their price target on 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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).