Edgar Lomax Co. VA Trims Stake in 3M Company $MMM

Edgar Lomax Co. VA cut its position in shares of 3M Company (NYSE:MMM) by 22.5% in the third quarter, Holdings Channel.com reports. The firm owned 142,725 shares of the conglomerate’s stock after selling 41,535 shares during the quarter. 3M comprises approximately 1.7% of Edgar Lomax Co. VA’s investment portfolio, making the stock its 23rd biggest position. Edgar Lomax Co. VA’s holdings in 3M were worth $22,148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in MMM. Brighton Jones LLC raised its holdings in shares of 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock worth $1,149,000 after buying an additional 1,872 shares during the period. Bison Wealth LLC boosted its holdings in 3M by 10.2% during the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock valued at $355,000 after acquiring an additional 255 shares during the period. Golden State Wealth Management LLC grew its position in 3M by 83.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 1,142 shares of the conglomerate’s stock valued at $174,000 after acquiring an additional 519 shares during the last quarter. Everett Harris & Co. CA increased its stake in 3M by 10.6% in the second quarter. Everett Harris & Co. CA now owns 6,971 shares of the conglomerate’s stock worth $1,061,000 after purchasing an additional 666 shares during the period. Finally, L & S Advisors Inc lifted its position in shares of 3M by 52.5% during the second quarter. L & S Advisors Inc now owns 44,112 shares of the conglomerate’s stock worth $6,716,000 after purchasing an additional 15,180 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the sale, the chief accounting officer owned 2,585 shares of the company’s stock, valued at $446,558.75. This trade represents a 66.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on MMM. Wells Fargo & Company cut their price target on shares of 3M from $183.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $182.00 target price on shares of 3M in a research note on Friday, January 16th. Wolfe Research raised their target price on shares of 3M from $196.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft boosted their price target on 3M from $179.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings downgraded 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Four 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $175.90.

3M Price Performance

Shares of MMM opened at $155.77 on Friday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The company has a 50 day moving average price of $163.93 and a 200-day moving average price of $161.88. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $177.41. The stock has a market capitalization of $82.04 billion, a PE ratio of 25.96, a PEG ratio of 2.25 and a beta of 1.08.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.03. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.03 billion. 3M had a net margin of 13.03% and a return on equity of 95.36%. 3M’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Equities analysts predict that 3M Company will post 7.8 earnings per share for the current fiscal 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 given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from 3M’s previous quarterly dividend of $0.73. 3M’s dividend payout ratio is presently 52.00%.

3M 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).