MCF Advisors LLC Boosts Stock Position in 3M Company $MMM

MCF Advisors LLC grew its holdings in shares of 3M Company (NYSE:MMM) by 69.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,870 shares of the conglomerate’s stock after purchasing an additional 4,845 shares during the quarter. MCF Advisors LLC’s holdings in 3M were worth $1,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MMM. Commonwealth Retirement Investments LLC purchased a new stake in 3M during the fourth quarter worth about $28,000. Compass Financial Management LLC bought a new stake in shares of 3M in the 2nd quarter worth approximately $38,000. Cornerstone Planning Group LLC lifted its stake in 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 purchasing an additional 71 shares during the last quarter. Sfam LLC bought a new position in 3M during the fourth quarter valued at $45,000. Finally, West Paces Advisors Inc. purchased a new stake in 3M in the second quarter worth $49,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMM has been the subject of several recent research reports. Wolfe Research reissued an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Royal Bank Of Canada boosted their price target on shares of 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of 3M in a report on Wednesday, July 22nd. Sanford C. Bernstein boosted their target price on shares of 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group raised their price target on 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Monday, June 29th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.21.

3M Trading Down 1.9%

Shares of 3M stock opened at $164.35 on Thursday. The company’s 50-day moving average price is $171.89 and its 200-day moving average price is $159.29. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. 3M Company has a 12-month low of $139.34 and a 12-month high of $184.90. The company has a market cap of $84.76 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.21 and a beta of 1.01.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the company earned $2.16 earnings per share. 3M’s revenue for the quarter was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, equities analysts expect that 3M Company will post 8.96 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. 3M’s dividend payout ratio is presently 55.42%.

Insider Buying and Selling at 3M

In related news, insider Karin Chavez sold 3,635 shares of the stock in a transaction 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 sale, the insider owned 14,035 shares in the company, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

About 3M

3M Company is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it initially supplied abrasives and other materials before expanding into a broad range of science-based products and technologies.

The company develops products for industrial, transportation, electronics, safety and consumer markets. Its offerings include personal protective equipment, industrial adhesives and tapes, abrasives, filtration products, electrical materials, automotive solutions, medical and dental products, and consumer brands such as Post-it Notes and Scotch products.