New York State Common Retirement Fund Decreases Position in 3M Company $MMM

New York State Common Retirement Fund cut its holdings in 3M Company (NYSE:MMM) by 10.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 604,397 shares of the conglomerate’s stock after selling 72,800 shares during the quarter. New York State Common Retirement Fund’s holdings in 3M were worth $93,790,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of 3M by 26.6% during the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock worth $1,149,000 after purchasing an additional 1,872 shares during the last quarter. Bison Wealth LLC raised its holdings in 3M by 10.2% in the fourth quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock valued at $355,000 after buying an additional 255 shares during the period. SOA Wealth Advisors LLC. raised its stake in shares of 3M by 312.6% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 2,661 shares of the conglomerate’s stock valued at $405,000 after acquiring an additional 2,016 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of 3M by 2.1% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 77,624 shares of the conglomerate’s stock worth $11,817,000 after buying an additional 1,595 shares during the period. Finally, Duncan Williams Asset Management LLC acquired a new stake in 3M in the second quarter valued at approximately $425,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity

In related news, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $169.78, for a total value of $2,347,378.28. Following the completion of the sale, the executive vice president owned 6,162 shares of the company’s stock, valued at approximately $1,046,184.36. The trade was a 69.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

3M Stock Up 0.3%

NYSE:MMM opened at $156.34 on Friday. The business’s fifty day moving average price is $164.63 and its 200 day moving average price is $159.75. The firm has a market capitalization of $83.05 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 2.18 and a beta of 1.09. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. 3M Company has a 1-year low of $121.98 and a 1-year high of $174.69.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, sell-side analysts forecast that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.9%. 3M’s dividend payout ratio (DPR) is 48.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, January 21st. Mizuho set a $160.00 price objective on shares of 3M in a research report on Wednesday, January 21st. Morgan Stanley upped their price objective on 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $182.00 price target on shares of 3M in a research note on Friday, January 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of 3M in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average price target of $175.36.

3M 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).