Rhumbline Advisers Has $170.45 Million Stock Holdings in 3M Company $MMM

Rhumbline Advisers lowered its holdings in shares of 3M Company (NYSE:MMM) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,098,415 shares of the conglomerate’s stock after selling 10,536 shares during the period. Rhumbline Advisers’ holdings in 3M were worth $170,452,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in 3M by 12.0% in the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 40,875 shares of the conglomerate’s stock worth $6,218,000 after purchasing an additional 4,384 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in 3M during the second quarter worth $1,303,000. Segall Bryant & Hamill LLC acquired a new position in shares of 3M in the 2nd quarter valued at about $8,594,000. L & S Advisors Inc boosted its holdings in shares of 3M by 52.5% during the 2nd quarter. L & S Advisors Inc now owns 44,112 shares of the conglomerate’s stock worth $6,716,000 after buying an additional 15,180 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in 3M by 10.1% during the second quarter. Arkadios Wealth Advisors now owns 29,218 shares of the conglomerate’s stock worth $4,448,000 after acquiring an additional 2,674 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

Shares of MMM opened at $172.91 on Thursday. The firm has a market cap of $91.07 billion, a PE ratio of 28.82, a PEG ratio of 2.43 and a beta of 1.09. 3M Company has a 1 year low of $121.98 and a 1 year high of $174.93. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.71 and a quick ratio of 1.33. The stock’s fifty day moving average price is $163.48 and its two-hundred day moving average price is $160.45.

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

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from 3M’s previous quarterly dividend of $0.73. 3M’s payout ratio is presently 48.67%.

Analyst Upgrades and Downgrades

MMM has been the topic of several recent research reports. Wells Fargo & Company cut their price target on 3M from $183.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. UBS Group raised their price objective on shares of 3M from $184.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Barclays lifted their price target on 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Morgan Stanley upped their price target on 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Finally, Wolfe Research lowered their target price on shares of 3M from $197.00 to $196.00 and set an “outperform” rating for the company 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $175.36.

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).