Corient Private Wealth LP Raises Holdings in 3M Company $MMM

Corient Private Wealth LP lifted its position in shares of 3M Company (NYSE:MMM) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 288,761 shares of the conglomerate’s stock after acquiring an additional 5,638 shares during the period. Corient Private Wealth LP’s holdings in 3M were worth $46,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. American Trust lifted its stake in shares of 3M by 3.4% in the 4th 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 grew its position in 3M by 1.0% during the third 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 during the period. MBA Advisors LLC increased its holdings in 3M by 2.5% in the second quarter. MBA Advisors LLC now owns 2,839 shares of the conglomerate’s stock valued at $460,000 after buying an additional 68 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after buying an additional 71 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. raised its position in shares of 3M by 2.4% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 3,250 shares of the conglomerate’s stock worth $520,000 after acquiring an additional 75 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at 3M

In other news, insider Karin Chavez sold 3,635 shares of the firm’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 value of $663,423.85. Following the transaction, the insider owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is owned by insiders.

3M Stock Up 1.2%

Shares of NYSE MMM opened at $164.83 on Friday. The firm has a market cap of $85.00 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.17 and a beta of 1.01. The company’s 50-day simple moving average is $172.02 and its 200-day simple moving average is $159.30. 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 52-week low of $139.34 and a 52-week high of $184.90.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping 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 company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Equities analysts predict that 3M Company will post 8.96 EPS for the current fiscal year.

3M Dividend Announcement

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

Analyst Ratings Changes

MMM has been the topic of several recent analyst reports. Sanford C. Bernstein increased their target price on shares of 3M from $140.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group restated a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Jefferies Financial Group upped their price target on 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Monday, June 29th. UBS Group raised their price objective on 3M from $190.00 to $218.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $192.00 price objective on shares of 3M in a research report on Wednesday, July 22nd. Eight 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 MarketBeat.com, 3M presently has an average rating of “Hold” and an average price target of $177.21.

3M Company Profile

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.