Handelsbanken Fonder AB Sells 25,126 Shares of 3M Company $MMM

Handelsbanken Fonder AB cut its holdings in shares of 3M Company (NYSE:MMM) by 10.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,903 shares of the conglomerate’s stock after selling 25,126 shares during the quarter. Handelsbanken Fonder AB’s holdings in 3M were worth $36,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. American Trust raised its position in shares of 3M by 3.4% in the fourth quarter. American Trust now owns 1,803 shares of the conglomerate’s stock valued at $289,000 after purchasing an additional 60 shares during the period. Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock valued at $938,000 after buying an additional 61 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings 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 buying an additional 71 shares during the period. Morse Asset Management Inc boosted its holdings in 3M by 0.7% in the 4th quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate’s stock worth $1,715,000 after buying an additional 75 shares during the period. Finally, Williams Jones Wealth Management LLC. grew its stake in 3M by 2.4% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 3,250 shares of the conglomerate’s stock valued at $520,000 after buying an additional 75 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity

In related news, insider Rodriguez Beatriz 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 completion of the sale, the insider owned 14,035 shares of the company’s stock, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of 3M from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. HSBC raised their price target on 3M from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Sanford C. Bernstein lifted their price target on 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Mizuho increased their price objective on 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $177.21.

3M Stock Performance

3M stock opened at $183.09 on Wednesday. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The firm has a market capitalization of $94.42 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.01. The firm’s 50 day simple moving average is $165.14 and its 200 day simple moving average is $157.60.

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

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).