3M Company $MMM Stake Reduced by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in 3M Company (NYSE:MMM) by 31.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,679 shares of the conglomerate’s stock after selling 151,480 shares during the quarter. Wellington Management Group LLP’s holdings in 3M were worth $53,540,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Commonwealth Retirement Investments LLC purchased a new position in 3M in the 4th quarter worth about $28,000. Cornerstone Planning Group LLC raised its stake in shares of 3M by 32.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 71 shares in the last quarter. Sfam LLC acquired a new stake in 3M in the fourth quarter valued at approximately $45,000. West Paces Advisors Inc. bought a new stake in 3M in the second quarter worth approximately $49,000. Finally, WFA of San Diego LLC acquired a new position in shares of 3M during the 2nd quarter worth $61,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MMM. Royal Bank Of Canada raised their price objective on 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research note on Wednesday, July 22nd. Mizuho boosted their price objective on shares of 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. 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. Citigroup lifted their target price on shares of 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $192.00 price objective on shares of 3M in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Hold” and a consensus target price of $177.21.

Insider Transactions at 3M

In other 3M news, insider Karin Chavez sold 3,635 shares of 3M 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 owned 14,035 shares of the company’s stock, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

3M Stock Performance

Shares of NYSE:MMM opened at $168.13 on Friday. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. The stock has a market capitalization of $86.71 billion, a P/E ratio of 29.86, a P/E/G ratio of 2.22 and a beta of 1.01. 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 business has a 50-day moving average price of $171.49 and a two-hundred day moving average price of $159.29.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The firm 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 earned $2.16 EPS. 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. Equities analysts predict that 3M Company will post 8.96 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, August 24th. 3M’s payout ratio is 55.42%.

About 3M

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).