State Street Corp Grows Stock Position in 3M Company $MMM

State Street Corp raised its position in shares of 3M Company (NYSE:MMM) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,828,966 shares of the conglomerate’s stock after acquiring an additional 105,222 shares during the period. State Street Corp owned approximately 0.05% of 3M worth $4,505,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MMM. MAC Alpha Capital Management LP bought a new stake in 3M in the second quarter worth about $353,000. Security National Bank of SO Dak purchased a new position in shares of 3M during the second quarter valued at approximately $32,000. Reynders McVeigh Capital Management LLC bought a new position in shares of 3M during the second quarter valued at approximately $230,000. Bullseye Investment Management LLC bought a new position in shares of 3M during the second quarter valued at approximately $52,000. Finally, Bouchey Financial Group Ltd. purchased a new stake in shares of 3M in the second quarter worth approximately $242,000. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, insider Karin Chavez sold 3,635 shares of the stock in a transaction that occurred 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 completion of the sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

3M Stock Up 1.8%

NYSE:MMM traded up $2.96 during mid-day trading on Tuesday, reaching $167.93. The company’s stock had a trading volume of 790,208 shares, compared to its average volume of 3,737,804. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. 3M Company has a 1 year low of $139.34 and a 1 year high of $184.90. The stock has a fifty day moving average of $172.88 and a 200-day moving average of $159.27. The firm has a market capitalization of $86.61 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.18 and a beta of 1.01.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The company’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. Equities research analysts forecast that 3M Company will post 8.96 earnings per share for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, August 24th. 3M’s dividend payout ratio (DPR) is currently 55.42%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MMM. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $178.00 to $180.00 in a report on Friday, July 17th. Royal Bank Of Canada increased their target price on 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. Weiss Ratings upgraded shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Finally, Sanford C. Bernstein raised their price target on shares of 3M from $140.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $177.21.

About 3M

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.