L & S Advisors Inc Increases Position in 3M Company $MMM

L & S Advisors Inc raised its holdings in 3M Company (NYSE:MMM) by 32.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,316 shares of the conglomerate’s stock after purchasing an additional 14,204 shares during the quarter. L & S Advisors Inc’s holdings in 3M were worth $9,049,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Private Trust Co. NA increased its holdings in shares of 3M by 0.8% in the third quarter. Private Trust Co. NA now owns 9,205 shares of the conglomerate’s stock valued at $1,428,000 after purchasing an additional 69 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. grew its position in shares of 3M by 6.0% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate’s stock worth $195,000 after buying an additional 71 shares in the last quarter. Quent Capital LLC boosted its position in shares of 3M by 2.6% during the 3rd quarter. Quent Capital LLC now owns 2,845 shares of the conglomerate’s stock worth $441,000 after acquiring an additional 73 shares in the last quarter. West Oak Capital LLC increased its position in shares of 3M by 1.6% during the third quarter. West Oak Capital LLC now owns 5,365 shares of the conglomerate’s stock worth $832,000 after purchasing an additional 85 shares in the last quarter. Finally, Syon Capital LLC raised its holdings in shares of 3M by 1.9% in the third quarter. Syon Capital LLC now owns 5,022 shares of the conglomerate’s stock valued at $779,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on MMM shares. Citigroup lowered their target price on shares of 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $182.00 price target on shares of 3M in a research report on Friday, January 16th. Wells Fargo & Company cut their target price on 3M from $183.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. UBS Group raised their price target on shares of 3M from $184.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Wolfe Research cut their price target on 3M from $197.00 to $196.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and a consensus price target of $175.36.

3M Stock Performance

Shares of MMM opened at $164.19 on Thursday. The company has a 50-day moving average of $163.85 and a two-hundred day moving average of $161.18. The stock has a market cap of $86.48 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.34 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. 3M Company has a one year low of $121.98 and a one year high of $177.41.

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

3M Increases Dividend

The business also recently declared 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from 3M’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Friday, February 13th. 3M’s dividend payout ratio (DPR) is currently 52.00%.

Insider Activity

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total value of $888,798.75. Following the transaction, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at $446,558.75. This represents a 66.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

About 3M

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).