5,030 Shares in 3M Company $MMM Acquired by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. acquired a new stake in 3M Company (NYSE:MMM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,030 shares of the conglomerate’s stock, valued at approximately $814,000.

Other hedge funds have also recently added to or reduced their stakes in the company. American Trust boosted its holdings in shares of 3M by 3.4% during the 4th quarter. American Trust now owns 1,803 shares of the conglomerate’s stock valued at $289,000 after acquiring an additional 60 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in 3M by 1.0% in 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 in the last quarter. Cornerstone Planning Group LLC increased its holdings in 3M by 32.1% in 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. Morse Asset Management Inc raised its position in 3M by 0.7% in the fourth quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate’s stock valued at $1,715,000 after purchasing an additional 75 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. raised its position in 3M by 2.4% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 3,250 shares of the conglomerate’s stock valued at $520,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the 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 completion of the sale, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

3M Trading Up 0.5%

Shares of MMM stock opened at $178.93 on Friday. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. 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 stock has a market cap of $92.28 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.16 and a beta of 1.01. The stock has a 50-day moving average of $169.27 and a 200-day moving average of $158.89.

3M (NYSE:MMM) last posted its quarterly earnings data 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 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 period in the previous year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, equities research analysts forecast that 3M Company will post 8.95 earnings per share for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 24th. 3M’s dividend payout ratio is currently 55.42%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wolfe Research restated an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Weiss Ratings upgraded shares of 3M from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $192.00 target price on shares of 3M in a research report on Wednesday, July 22nd. Sanford C. Bernstein upped their price target 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. Finally, The Goldman Sachs Group restated a “buy” rating on shares of 3M in a research report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.21.

3M Company Profile

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).