NewEdge Advisors LLC Has $49.26 Million Position in 3M Company $MMM

NewEdge Advisors LLC raised its holdings in 3M Company (NYSE:MMM) by 2.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 304,215 shares of the conglomerate’s stock after purchasing an additional 8,332 shares during the period. NewEdge Advisors LLC’s holdings in 3M were worth $49,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC acquired a new position in 3M in the fourth quarter worth about $28,000. Compass Financial Management LLC acquired a new stake in 3M during the second quarter valued at approximately $38,000. Cornerstone Planning Group LLC boosted its holdings in 3M by 32.1% during 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 in the last quarter. Sfam LLC bought a new position in shares of 3M during the 4th quarter worth approximately $45,000. Finally, West Paces Advisors Inc. bought a new position in shares of 3M during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, insider Karin Chavez sold 3,635 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were 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 of the company’s stock, valued at $2,561,527.85. The trade was a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

3M Stock Performance

Shares of 3M stock opened at $164.35 on Thursday. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $171.89 and a 200 day simple moving average of $159.29. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90. The firm has a market cap of $84.76 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.21 and a beta of 1.01.

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

3M Announces Dividend

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

Wall Street Analyst Weigh In

MMM has been the topic of a number of analyst reports. Citigroup upped their price target on 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Wolfe Research restated an “outperform” rating on shares of 3M in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $192.00 target price on shares of 3M in a report on Wednesday, July 22nd. Weiss Ratings raised shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Finally, Royal Bank Of Canada upped their price objective 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. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $177.21.

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.