Rhumbline Advisers Reduces Holdings in 3M Company $MMM

Rhumbline Advisers cut its holdings in shares of 3M Company (NYSE:MMM) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,098,415 shares of the conglomerate’s stock after selling 10,536 shares during the period. Rhumbline Advisers owned about 0.21% of 3M worth $170,452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp purchased a new stake in 3M during the 3rd quarter worth approximately $34,000. Westside Investment Management Inc. grew its position in shares of 3M by 77.4% during the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after buying an additional 106 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of 3M in the third quarter worth $50,000. Collier Financial acquired a new stake in 3M in the third quarter valued at $52,000. Finally, WFA of San Diego LLC bought a new position in 3M during the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MMM. Morgan Stanley lifted their price target on 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Royal Bank Of Canada boosted their price target on 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a report on Wednesday, January 21st. Citigroup dropped their price target on 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Barclays lifted their price objective on shares of 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $182.00 target price on shares of 3M in a report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $175.36.

3M Stock Down 0.3%

Shares of 3M stock opened at $172.91 on Thursday. The company has a market capitalization of $91.07 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 2.43 and a beta of 1.09. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.71 and a quick ratio of 1.33. The business has a 50-day moving average of $163.48 and a two-hundred day moving average of $160.45. 3M Company has a 1 year low of $121.98 and a 1 year high of $174.93.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.03 billion. 3M had a return on equity of 95.36% and a net margin of 13.03%.3M’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, equities analysts predict that 3M Company will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 13th will be given a dividend of $0.78 per share. This is an increase from 3M’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Friday, February 13th. This represents a $3.12 dividend on an annualized basis and a yield of 1.8%. 3M’s payout ratio is currently 48.67%.

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).