Wedbush Securities Inc. Cuts Holdings in 3M Company $MMM

Wedbush Securities Inc. trimmed its holdings in shares of 3M Company (NYSE:MMM) by 32.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,625 shares of the conglomerate’s stock after selling 6,007 shares during the quarter. Wedbush Securities Inc.’s holdings in 3M were worth $1,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Collier Financial acquired a new position in shares of 3M during the third quarter worth $52,000. Prime Capital Investment Advisors LLC increased its holdings in 3M by 0.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 27,417 shares of the conglomerate’s stock valued at $4,255,000 after buying an additional 100 shares during the last quarter. Waterloo Capital L.P. raised its position in shares of 3M by 3.0% during the 3rd quarter. Waterloo Capital L.P. now owns 23,865 shares of the conglomerate’s stock valued at $3,703,000 after acquiring an additional 704 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of 3M by 6.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,905 shares of the conglomerate’s stock worth $3,554,000 after buying an additional 1,299 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in 3M by 77.4% in the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

NYSE MMM opened at $174.65 on Friday. The stock has a 50-day simple moving average of $163.59 and a 200 day simple moving average of $160.55. The stock has a market capitalization of $91.99 billion, a PE ratio of 29.11, a P/E/G ratio of 2.42 and a beta of 1.09. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. 3M Company has a twelve month low of $121.98 and a twelve month high of $177.41.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.03. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.03 billion. 3M had a return on equity of 95.36% and a net margin of 13.03%.The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Research analysts anticipate that 3M Company will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 13th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 13th. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. This is a boost from 3M’s previous quarterly dividend of $0.73. 3M’s dividend payout ratio is presently 48.67%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $182.00 target price on shares of 3M in a research report on Friday, January 16th. Royal Bank Of Canada raised their price objective on shares of 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a research note on Wednesday, January 21st. Mizuho set a $160.00 target price on 3M in a report on Wednesday, January 21st. Morgan Stanley increased their target price on shares of 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on 3M from $179.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $175.36.

Insider Buying and Selling at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total transaction of $888,798.75. Following the completion of the sale, the chief accounting officer owned 2,585 shares in the company, valued at $446,558.75. This trade represents a 66.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

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).