Two Sigma Securities LLC Buys New Stake in 3M Company $MMM

Two Sigma Securities LLC purchased a new position in shares of 3M Company (NYSE:MMM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,105 shares of the conglomerate’s stock, valued at approximately $1,798,000.

Other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 3M by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock worth $637,202,000 after buying an additional 270,458 shares during the last quarter. SG Americas Securities LLC lifted its holdings in 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after acquiring an additional 2,055,419 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in 3M in the 4th quarter worth approximately $65,009,000. Ascentis Wealth Management LLC boosted its position in 3M by 22,972.5% in the 2nd quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock worth $56,259,000 after purchasing an additional 345,966 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of 3M by 1.5% during the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock worth $43,511,000 after purchasing an additional 4,101 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

MMM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $192.00 target price on shares of 3M in a research note on Wednesday, July 22nd. Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Mizuho increased their target price on shares of 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their target price on shares of 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $178.00 to $180.00 in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.21.

3M Stock Down 0.1%

MMM stock opened at $174.14 on Monday. 3M Company has a 52 week low of $139.34 and a 52 week high of $184.90. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. The firm has a 50-day simple moving average of $171.09 and a 200-day simple moving average of $159.39. The stock has a market capitalization of $89.81 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.11 and a beta of 1.01.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the company posted $2.16 EPS. 3M’s quarterly revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities analysts forecast that 3M Company will post 8.96 earnings per share for the current fiscal year.

3M Announces Dividend

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 paid a $0.78 dividend. 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 payout ratio is currently 55.42%.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the business’s 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 completion of the sale, the insider directly owned 14,035 shares in the company, valued at approximately $2,561,527.85. The trade was a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

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).