3,295 Shares of 3M Company $MMM Purchased by Sanders Morris Harris LLC

Sanders Morris Harris LLC bought a new stake in 3M Company (NYSE:MMM) during the third quarter, Holdings Channel reports. The firm bought 3,295 shares of the conglomerate’s stock, valued at approximately $559,000.

Several other large investors have also recently bought and sold shares of MMM. Security National Bank of SO Dak acquired a new position in 3M in the 2nd quarter valued at approximately $32,000. Compass Financial Management LLC bought a new position in shares of 3M in the second quarter valued at about $38,000. Cornerstone Planning Group LLC raised its position 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 purchasing an additional 71 shares during the last quarter. West Paces Advisors Inc. acquired a new position in 3M during the 2nd quarter valued at about $49,000. Finally, Bullseye Investment Management LLC acquired a new position in shares of 3M in the 2nd quarter valued at $52,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MMM has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on 3M from $192.00 to $194.00 and gave the stock a “hold” rating in a research report on Wednesday, September 30th. Jefferies Financial Group upped their price target on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, June 29th. Citigroup boosted their price objective on shares of 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of 3M in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.71.

3M Price Performance

MMM stock opened at $164.09 on Thursday. The company’s fifty day simple moving average is $170.66 and its 200 day simple moving average is $161.09. The firm has a market cap of $84.63 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.27 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 1.24 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.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s 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. On average, analysts expect that 3M Company will post 8.97 earnings per share for the current year.

3M Dividend Announcement

The business 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 (DPR) is 55.42%.

Insider Activity at 3M

In related news, insider Karin Chavez sold 3,635 shares of 3M stock in a transaction 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 sale, the insider directly owned 14,035 shares in the company, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

3M 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.