Baird Financial Group Inc. Decreases Stake in 3M Company $MMM

Baird Financial Group Inc. decreased its holdings in shares of 3M Company (NYSE:MMM) by 23.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,463 shares of the conglomerate’s stock after selling 44,566 shares during the quarter. Baird Financial Group Inc.’s holdings in 3M were worth $23,552,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MMM. American Trust grew its holdings in shares of 3M by 3.4% in the fourth 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 increased its position in shares of 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after purchasing an additional 61 shares during the last quarter. MBA Advisors LLC raised its holdings in 3M by 2.5% in the 2nd quarter. MBA Advisors LLC now owns 2,839 shares of the conglomerate’s stock valued at $460,000 after buying an additional 68 shares during the period. Cornerstone Planning Group LLC lifted its position 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 during the last quarter. Finally, Williams Jones Wealth Management LLC. increased its position in shares of 3M by 2.4% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 3,250 shares of the conglomerate’s stock valued at $520,000 after acquiring an additional 75 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Up 1.2%

Shares of 3M stock opened at $164.83 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The company has a fifty day simple moving average of $172.02 and a 200-day simple moving average of $159.30. The stock has a market cap of $85.00 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.14 and a beta of 1.01. 3M Company has a 12-month low of $139.34 and a 12-month high of $184.90.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the company posted $2.16 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, equities analysts forecast that 3M Company will post 8.96 EPS for the current fiscal year.

3M Announces Dividend

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

Insider Buying and Selling

In other 3M news, insider Karin Chavez sold 3,635 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the transaction, the insider directly owned 14,035 shares of the company’s stock, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MMM shares. Wolfe Research restated an “outperform” rating on shares of 3M in a research report on Thursday, July 9th. Citigroup raised their price objective on shares of 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein upped their price objective on 3M from $140.00 to $145.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 22nd. Mizuho increased their price objective on 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of 3M in a report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.21.

3M 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.