Sunbelt Securities Inc. Trims Position in 3M Company $MMM

Sunbelt Securities Inc. lessened its holdings in shares of 3M Company (NYSE:MMM) by 25.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,046 shares of the conglomerate’s stock after selling 7,006 shares during the quarter. Sunbelt Securities Inc.’s holdings in 3M were worth $3,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. J.Safra Asset Management Corp purchased a new position in shares of 3M during the third quarter valued at about $34,000. Westside Investment Management Inc. lifted its stake in shares of 3M by 77.4% in the 3rd 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 period. Cloud Capital Management LLC bought a new stake in shares of 3M during the 3rd quarter valued at $50,000. Collier Financial bought a new stake in shares of 3M during the 3rd quarter valued at $52,000. Finally, WFA of San Diego LLC purchased a new stake in shares of 3M in the 2nd quarter worth about $61,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In other news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the transaction, the chief accounting officer owned 2,585 shares in the company, valued at $446,558.75. The trade was a 66.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup lowered their price target on shares of 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Royal Bank Of Canada raised their target price on shares of 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a research note on Wednesday, January 21st. Wolfe Research boosted their price target on 3M from $196.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Barclays raised their price objective on 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $182.00 target price on shares of 3M in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $175.90.

3M Stock Down 0.7%

Shares of 3M stock opened at $148.96 on Wednesday. The company has a 50-day simple moving average of $162.28 and a two-hundred day simple moving average of $161.75. The stock has a market capitalization of $78.46 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. 3M Company has a 52-week low of $121.98 and a 52-week high of $177.41. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71.

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

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 13th. This represents a $3.12 annualized dividend and a yield of 2.1%. This is a positive change from 3M’s previous quarterly dividend of $0.73. 3M’s dividend payout ratio (DPR) is 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).