Sunbelt Securities Inc. Sells 7,006 Shares of 3M Company $MMM

Sunbelt Securities Inc. trimmed its stake in 3M Company (NYSE:MMM) by 25.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,046 shares of the conglomerate’s stock after selling 7,006 shares during the period. Sunbelt Securities Inc.’s holdings in 3M were worth $3,111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MMM. NewEdge Advisors LLC raised its position in shares of 3M by 4.5% during the 3rd quarter. NewEdge Advisors LLC now owns 50,066 shares of the conglomerate’s stock valued at $7,769,000 after buying an additional 2,153 shares in the last quarter. Triumph Capital Management grew its position in 3M by 6.8% in the third quarter. Triumph Capital Management now owns 1,565 shares of the conglomerate’s stock worth $243,000 after acquiring an additional 100 shares in the last quarter. American Trust increased its stake in 3M by 28.4% in the third quarter. American Trust now owns 1,743 shares of the conglomerate’s stock valued at $270,000 after acquiring an additional 385 shares during the last quarter. FWL Investment Management LLC increased its stake in 3M by 1,705.0% in the third quarter. FWL Investment Management LLC now owns 1,805 shares of the conglomerate’s stock valued at $280,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in 3M by 3.3% during the third quarter. Morse Asset Management Inc now owns 10,638 shares of the conglomerate’s stock valued at $1,651,000 after purchasing an additional 337 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Down 0.7%

Shares of NYSE:MMM opened at $148.96 on Wednesday. The stock has a market capitalization of $78.46 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The stock’s 50-day moving average price is $162.28 and its 200-day moving average price is $161.75. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. 3M Company has a 12-month low of $121.98 and a 12-month high of $177.41.

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

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 13th were issued a $0.78 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.73. This represents a $3.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, February 13th. 3M’s dividend payout ratio (DPR) is 52.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Mizuho set a $160.00 price objective on 3M in a report on Wednesday, January 21st. UBS Group reissued a “buy” rating on shares of 3M in a report on Friday. Barclays boosted their target price on 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Royal Bank Of Canada increased their price target on shares of 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a research report on Wednesday, January 21st. Finally, Citigroup decreased their price target on shares of 3M from $181.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $175.90.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 5,145 shares of 3M stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the transaction, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at $446,558.75. The trade was a 66.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by insiders.

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).