3M Company $MMM Stock Holdings Increased by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its holdings in shares of 3M Company (NYSE:MMM) by 1,227.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 47,782 shares of the conglomerate’s stock after acquiring an additional 44,183 shares during the quarter. SteelPeak Wealth LLC’s holdings in 3M were worth $7,843,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Security National Bank of SO Dak bought a new position in 3M during the second quarter worth about $32,000. Compass Financial Management LLC acquired a new position in 3M in the second quarter valued at about $38,000. Cornerstone Planning Group LLC increased its holdings in shares of 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 71 shares in the last quarter. West Paces Advisors Inc. bought a new stake in shares of 3M in the second quarter worth about $49,000. Finally, Bullseye Investment Management LLC bought a new stake in shares of 3M in the second quarter worth about $52,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 0.5%

Shares of NYSE:MMM opened at $164.46 on Friday. The firm has a market cap of $84.82 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.30 and a beta of 0.99. 3M Company has a 12 month low of $139.34 and a 12 month high of $184.90. The company’s fifty day simple moving average is $169.98 and its 200 day simple moving average is $161.27. 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 (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, research analysts forecast that 3M Company will post 8.97 EPS for the current fiscal year.

3M Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MMM. Jefferies Financial Group raised their price target on 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. UBS Group boosted their price objective on 3M from $190.00 to $218.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Mizuho boosted their price objective on 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on 3M from $192.00 to $194.00 and gave the stock a “hold” rating in a research note on Wednesday, September 30th. Finally, Weiss Ratings cut 3M from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $181.71.

Insider Activity at 3M

In other news, insider Karin Chavez sold 3,635 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the sale, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. The trade was a 20.57% decrease in their ownership of the stock. 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.

3M Profile

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.