3M Company $MMM Shares Sold by Spinnaker Trust

Spinnaker Trust lessened its holdings in 3M Company (NYSE:MMM) by 0.8% during the second quarter, Holdings Channel.com reports. The firm owned 395,870 shares of the conglomerate’s stock after selling 3,285 shares during the quarter. 3M makes up 3.1% of Spinnaker Trust’s investment portfolio, making the stock its 7th largest position. Spinnaker Trust’s holdings in 3M were worth $64,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. American Trust raised its stake in shares of 3M by 3.4% during the 4th quarter. American Trust now owns 1,803 shares of the conglomerate’s stock worth $289,000 after buying an additional 60 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV boosted its stake in shares of 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 valued at $938,000 after buying an additional 61 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after buying an additional 71 shares in the last quarter. Morse Asset Management Inc grew its holdings in 3M by 0.7% during the fourth quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate’s stock worth $1,715,000 after acquiring an additional 75 shares during the period. Finally, Williams Jones Wealth Management LLC. grew its holdings in 3M by 2.4% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 3,250 shares of the conglomerate’s stock worth $520,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the transaction, the insider owned 14,035 shares of the company’s stock, valued at approximately $2,561,527.85. The trade was a 20.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of a number of recent analyst reports. Mizuho raised their target price on 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and increased their price target for the company from $178.00 to $180.00 in a report on Friday, July 17th. Weiss Ratings upgraded shares of 3M from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their price objective on shares of 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $192.00 price objective on shares of 3M in a report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $177.21.

3M Stock Down 2.6%

Shares of NYSE MMM opened at $174.14 on Friday. The firm’s 50-day moving average is $171.09 and its two-hundred day moving average is $159.46. The company has a market capitalization of $89.81 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01. 3M Company has a 12-month low of $139.34 and a 12-month high of $184.90. 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 (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. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities analysts anticipate that 3M Company will post 8.96 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 24th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. 3M’s dividend payout ratio (DPR) is presently 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).