Miller Investment Management LP Sells 3,875 Shares of 3M Company $MMM

Miller Investment Management LP trimmed its position in shares of 3M Company (NYSE:MMM) by 40.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,615 shares of the conglomerate’s stock after selling 3,875 shares during the period. Miller Investment Management LP’s holdings in 3M were worth $871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. J.Safra Asset Management Corp bought a new stake in 3M in the third quarter worth $34,000. Westside Investment Management Inc. lifted its position in 3M by 77.4% during the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 106 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of 3M in the 3rd quarter worth $50,000. Collier Financial bought a new stake in shares of 3M in the 3rd quarter worth about $52,000. Finally, WFA of San Diego LLC bought a new stake in shares of 3M in the 2nd quarter worth about $61,000. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MMM. Deutsche Bank Aktiengesellschaft increased their price target on shares of 3M from $179.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $182.00 price objective on shares of 3M in a research report on Friday, January 16th. Barclays lifted their target price on 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Wolfe Research cut their target price on 3M from $197.00 to $196.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Finally, Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.36.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 5,145 shares of 3M stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total transaction of $888,798.75. Following the completion of the sale, the chief accounting officer owned 2,585 shares in the company, valued at $446,558.75. This trade represents a 66.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

3M Trading Down 0.6%

Shares of NYSE MMM opened at $166.03 on Tuesday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The business’s 50 day moving average price is $163.74 and its 200-day moving average price is $161.60. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $177.41. The company has a market cap of $87.45 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 2.34 and a beta of 1.09.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.03. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.03 billion. 3M had a return on equity of 95.36% and a net margin of 13.03%.3M’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.68 EPS. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, sell-side analysts expect that 3M Company will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 13th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 13th. This is a boost from 3M’s previous quarterly dividend of $0.73. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. 3M’s dividend payout ratio (DPR) is currently 52.00%.

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).