3,269 3M Company $MMM Shares Sold by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC lowered its stake in shares of 3M Company (NYSE:MMM) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,703 shares of the conglomerate’s stock after selling 3,269 shares during the period. 3M makes up approximately 1.9% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 14th biggest holding. Summit Financial Wealth Advisors LLC’s holdings in 3M were worth $15,217,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Security National Bank of SO Dak purchased a new stake in shares of 3M during the 2nd quarter valued at about $32,000. Compass Financial Management LLC acquired a new position in 3M during the 2nd quarter worth approximately $38,000. Cornerstone Planning Group LLC boosted its holdings in 3M by 32.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 71 shares during the period. West Paces Advisors Inc. purchased a new position in 3M in the 2nd quarter worth approximately $49,000. Finally, Bullseye Investment Management LLC acquired a new stake in 3M in the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.7%

NYSE MMM traded up $1.15 during trading hours on Thursday, reaching $165.61. 1,207,533 shares of the company traded hands, compared to its average volume of 3,662,428. The stock has a market capitalization of $85.41 billion, a PE ratio of 29.38, a PEG ratio of 2.27 and a beta of 0.99. 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 50 day moving average of $170.66 and a two-hundred day moving average of $161.09.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. 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 11.90% and a return on equity of 115.87%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, equities analysts expect that 3M Company will post 8.97 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 24th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio is presently 55.42%.

Analyst Ratings Changes

A number of research firms have recently commented on MMM. JPMorgan Chase & Co. reduced their target price on shares of 3M from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Royal Bank Of Canada raised their price target on shares of 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a report on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Mizuho boosted their price objective on shares of 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, Citigroup upped their price objective on shares of 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, 3M presently has a consensus rating of “Hold” and a consensus target price of $181.71.

Insider Transactions at 3M

In other 3M news, insider Karin Chavez sold 3,635 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the transaction, the insider owned 14,035 shares of the company’s stock, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.

3M Company Profile

3M is a diversified technology and manufacturing company that develops products and solutions for industrial, workplace safety, transportation, electronics, consumer and other markets. Its portfolio includes adhesives, abrasives, tapes, films, filtration products, personal protective equipment, reflective materials and advanced materials used in manufacturing and commercial applications.

The company sells a broad range of well-known consumer and office products under brands such as Post-it and Scotch.