Northwestern Mutual Wealth Management Co. Sells 3,013 Shares of 3M Company $MMM

Northwestern Mutual Wealth Management Co. decreased its holdings in 3M Company (NYSE:MMM) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,379 shares of the conglomerate’s stock after selling 3,013 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in 3M were worth $13,176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Retirement Investments LLC purchased a new position in shares of 3M in the 4th quarter valued at approximately $28,000. Sfam LLC purchased a new position in shares of 3M in the 4th quarter worth about $45,000. Cornerstone Planning Group LLC lifted its stake 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 buying an additional 71 shares in the last quarter. West Paces Advisors Inc. bought a new position in 3M in the 2nd quarter valued at approximately $49,000. Finally, WFA of San Diego LLC bought a new position in shares of 3M during the second quarter valued at $61,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Down 0.9%

Shares of MMM opened at $168.66 on Thursday. 3M Company has a 52-week low of $139.34 and a 52-week high of $184.90. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. The business has a fifty day moving average of $171.48 and a 200 day moving average of $159.31. The company has a market cap of $86.98 billion, a PE ratio of 29.96, a P/E/G ratio of 2.24 and a beta of 1.01.

3M (NYSE:MMM) last issued 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 company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s 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, sell-side analysts expect that 3M Company will post 8.96 EPS for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 24th. 3M’s payout ratio is currently 55.42%.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MMM shares. Sanford C. Bernstein increased their price objective on shares of 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. Citigroup lifted their price objective on 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, June 29th. The Goldman Sachs Group restated a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada increased their price objective on shares of 3M from $123.00 to $132.00 and gave the company an “underperform” rating 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.21.

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).