B.A. Schrock Wealth Management Inc. Acquires 10,855 Shares of 3M Company $MMM

B.A. Schrock Wealth Management Inc. acquired a new position in 3M Company (NYSE:MMM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,855 shares of the conglomerate’s stock, valued at approximately $1,770,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. State Street Corp lifted its stake in shares of 3M by 0.4% in the 2nd quarter. State Street Corp now owns 27,828,966 shares of the conglomerate’s stock valued at $4,505,788,000 after purchasing an additional 105,222 shares during the period. Amundi increased its holdings in 3M by 67.0% in the second quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock valued at $734,448,000 after purchasing an additional 1,819,178 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 3M by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock valued at $637,202,000 after purchasing an additional 270,458 shares during the last quarter. SG Americas Securities LLC lifted its stake in 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after buying an additional 2,055,419 shares during the period. Finally, National Pension Service lifted its stake in 3M by 3.6% in the second quarter. National Pension Service now owns 1,401,543 shares of the conglomerate’s stock valued at $226,924,000 after buying an additional 48,167 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Trading Up 0.8%

NYSE:MMM opened at $164.09 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 stock has a market capitalization of $84.63 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The business’s 50-day simple moving average is $170.66 and its 200-day simple moving average is $161.09. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90.

3M (NYSE:MMM) last posted its quarterly earnings data 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. 3M had a return on equity of 115.87% and a net margin of 11.90%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. 3M’s revenue for the quarter was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Sell-side analysts expect that 3M Company will post 8.97 earnings per share for the current fiscal year.

3M Announces Dividend

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

Insider Buying and Selling at 3M

In other news, insider Karin Chavez sold 3,635 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider directly owned 14,035 shares of the company’s stock, valued at $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

MMM has been the subject of several recent analyst reports. UBS Group upped their target price on shares of 3M from $190.00 to $218.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada increased their target price on shares of 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their price target on shares of 3M from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Jefferies Financial Group boosted their price target on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of 3M from $192.00 to $194.00 and gave the company a “hold” rating in a report on Wednesday, September 30th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus target price of $181.71.

About 3M

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.